The U.S. economy, entering the last month of a disappointing year, last week was chilled by more unpleasant news. Unemployment in November seemed headed for a new postwar high for the month. With increases among the jobless in 48 out of 50 states, November unemployment was up more than 300,000 over October to an estimated 4,200,000, according to preliminary figures based on the number of workers drawing unemployment compensation.
After a two-month rise that temporarily heartened businessmen, manufacturers' orders turned about and dropped 4% in October, sending the backlog of unfilled orders to the lowest point in...
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