The employment report was bad almost across the board.
The one encouraging sign is that average hourly earnings are not weakening. But even this months nice pop was largely offset by the fall in hours worked so that weekly nominal wages only rose 0.08%. So if there was any inflation in November real weekly wages fell.
The other point that I have not seen any comment on is that with the plunge in final demand we are now seeing the classic involuntary inventory accumulation. But higher inventories are a leading indicator of more economic weakness. So we are no where near a bottom in this recession.
P.S. Just thought I would add this table. It is hard to believe that President Carter is cited by many for having a horrible economy when employment rose 10 million during his term while the same people claim that Bush has a great record.