U.S. President-elect Barack Obama warned on Friday that the worst was yet to come for the U.S. economy after the unemployment rate rose to 6.7 percent in November, the highest level in 15 years.

A homeless man cadges on a street of Manhattan, New York, the United States of America, Nov. 11, 2008. The unemployment rate in the United States rose to 6.7 percent in November, the highest level in 15 years, as employers slashed 533,000 jobs, the most since December 1974, the Labor Department reported.

“The 533,000 jobs lost last month, the worst job loss in 34 years, is more than a dramatic reflection of the growing economic crisis we face,” said Obama in a statement.

“Our economy has already lost nearly 2 million jobs during this recession, which is why we need an Economic Recovery Plan that will save or create at least 2.5 million more jobs over two years while we act decisively to maintain the flows of credit on which so many American families and American businesses depend,” he noted.

He warned there are no quick or easy fixes to this crisis, which has been many years in the making, noting “it’s likely to get worse before it gets better.”

“But now is the time to respond with urgent resolve to put people back to work and get our economy moving again,” said Obama, who will take the oath of office on Jan. 20 as the U.S. 44th president.

VietNamNet/Xinhuanet