533,000 jobs lost in November, most since December 1974

“Our G.D.P. forecast for 2009 is now minus 1.8 percent, rather than minus 1 percent,” HIS Global Insight, a forecasting and data gathering service, informed its clients in an e-mail message this week, explaining that all the latest bad news left it no choice but to issue a sharp downward revision.

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“We see the unemployment rate at 8.6 percent by the end of 2009,” Global Insight said.

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