Payrolls Drop in 28 U.S. States, Joblessness Rises in 21 in Labor Setback

Editor's Note: Naturally, a bit of quantitative easing propaganda thrown in; like the "rescue" worked before.

Timothy R. Homan and Courtney Schilsserman
Bloomberg

Payrolls decreased in 28 U.S. states and the unemployment rate climbed in 21, showing most parts of the world’s largest economy took part in the November labor-market setback.

North Carolina led the nation with 12,500 job cuts last month, followed by Massachusetts with 8,600 dismissals, and Ohio with 7,800, figures from the Labor Department showed today in Washington.

Joblessness increased most in Georgia and Idaho, while workers in Nevada faced the highest rate in the country at 14.3 percent.

The report is consistent with figures on Dec. 3 that showed unemployment increased last month for the first time since August. The Federal Reserve’s pledge to buy an additional $600 billion of Treasuries by June and the $858 billion bill passed by Congress extending all Bush-era tax cuts for two years may help boost growth and cut unemployment.

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