According to the the Labor Department’s November jobs report that was released this morning, the U.S. lost 533,000 non-farm jobs last month. The monthly losses, now numbering 11 in a row, were the largest since 1974. Unemployment, which rose .2% to 6.7%, now stands at its highest level in 15 years. The report deals another brutal blow to the economic outlook, as the losses were far worse than the 350,000 job losses that most economists were predicting. Even the most pessimistic economists were estimating that job losses would be 400,000 or so. With scenes like this one in Chicago at CareerBuilder, the job losses are sure to get even worse in the next few months.
Fortunately, there are a few industries in which job opportunities are growing, and as the LinkUp data released yesterday shows, companies posted over 1 million new jobs on their corporate web sites in November and listed over 1.4 million total job openings on their sites during the month. So while the data is grim and bound to get worse, there are opportunities out there. You just have to know where to look (Hint: LinkUp).