US private jobs, services slump show recession toll

According to Reuters and Guardian: “U.S. private employers slashed an unexpectedly high 250,000 jobs in November, the biggest cut in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.
Wednesday’s reports were the latest signs that the job market is nowhere near bottom and suggested Friday’s government payrolls report could exceed current expectations for 320,000 job losses in November.”