Katie Couric's Notebook: 70s Throwback
Video: There are clearly a lot of reasons not to relive 1974. Yet, there it was in today's headlines – last month, America saw the biggest job losses in 34 years. More than half a million people lost their jobs, bringing the total to nearly two million since the recession began.
November and December usually bring job gains as retailers hire extra help for Christmas. No such luck this time.
The only silver lining in the November jobs report was a modest gain in healthcare, government and education jobs – just in case you're looking. Thirty four years ago this week, the cover of Time Magazine read "Recession's Greetings!"
This holiday season, everything old is new again. Let's hope this trend goes the way of bell bottoms – and fast.