Jobless rate jumps to 7.2%, average work week sinks to lowest ever on record.

From Washingtonpost.com today:

“The fine print of yesterday’s report from the Labor Department showed that a broader measure of joblessness — which includes people who are working part-time but would prefer a full-time job and people who want work but have given up looking — rose by nearly a full percentage point, to 13.5 percent.

The overall unemployment rate jumped from 6.8 percent in November, the Labor Department said. Employers cut 524,000 jobs last month, 2.6 million over the course of 2008. Companies not only slashed workers, but also cut back on hours for their remaining employees, to the shortest average workweek on record….”

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