Retail Industry Cut 91,300 Jobs in Nov.

New York City The U.S. retail industry cut 91,300 jobs in November, marking the biggest employee-loss in 34 years.

November marked the 12th consecutive month of retail job reductions and was well-above the industry's average monthly pace of 40,000.

Overall, the nation's employers cut 533,000 jobs in November, pushing the unemployment rate to a 15-year high of 6.7%.