The Challenger Job Report released this morning showed that 181,000 Americans lost their jobs in November, a 61-percent increase from the previous month.
A Challenger official said jobs cuts usually lag how bad things are, so the nation can expect even deeper job losses in the coming months. This news goes in tandem with a record increase in food stamp recipients in Tennessee.
Even retailers cut jobs, as their deep discounts on goods are not able to sustain staff numbers. Stock futures for the Dow are slightly down as the market comes off a gain of 270 points yesterday.
More bad economic numbers are expected this week.
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