recession

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Recession Could End in 3rd Quarter: Economists

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists...

This Mother's Day, She's Likely at Work

Women take on role of breadwinner as 4 of 5 lost jobs hit men

(Newser) - She's chef, cheerleader, and Florence Nightengale to scraped knees, but with the economy stinking like a previously enjoyed diaper, Mom is more and more often also a family's breadwinner, reports NPR. As male-dominated industries hemorrhage jobs, 14% of working moms are taking second jobs, a survey suggests. The recession has...

How to Free Creative You
 How to Free Creative You 


May 10, 2009 7:57 AM CDT

How to Free Creative You

Tips for innovation in troubled times

(Newser) - Tough times tend to foster innovation. If your wallet is feeling a pinch, capitalizing on your creativity may be a way to help, says ABC News. Here are some tips on how to get your brain moving:
  • Let your thoughts wander. Allowing your ideas to roam freely can "trigger
...

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

(Newser) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are...

College Grads Face Years of Lower Wages

Economists pile on the bad news for the struggling class of '09

(Newser) - The recession will mean paltry pay for the Class of '09 for many years to come, economists tell the Wall Street Journal. College grads are entering the toughest labor market in 25 years and competition is driving down starting wages for those lucky enough to land jobs, an effect research...

Don't Celebrate Yet, Stock Market
 Don't Celebrate Yet, 
 Stock Market 
OPINION
May 8, 2009 12:11 PM CDT

Don't Celebrate Yet, Stock Market

(Newser) - Don’t get too excited by the stock market’s recent rally. Stocks may go up another 10%-20% this year, says analyst Jeremy Grantham, but after that the market will crash again, and stay that way for years. “We've lost our shirts and we feel poor,” explains Henry...

Time to Stress Out About Stress Tests
 Time to Stress Out 
 About Stress Tests 
OPINION
May 8, 2009 7:22 AM CDT

Time to Stress Out About Stress Tests

Washington is leading us to a second crisis: Krugman

(Newser) - Sure, yesterday's release of the stress tests' results felt pretty anti-climatic. But while bankers might be reassured, Americans have no reason to be, writes Paul Krugman. For the New York Times columnist, the less-than-rigorous stress tests are part and parcel of an Obama administration strategy to "muddle through the...

Best and Worst Celeb Moms
 Best and Worst 
 Celeb Moms 
OPINION
May 7, 2009 12:50 PM CDT

Best and Worst Celeb Moms

Mother's Day survey reveals holiday activities, too

(Newser) - In a poll of 10,000 readers ahead of Mother's Day, more would trust their kids to Jennifer Aniston than Brangelina, ParentDish.com reveals. More from the survey
  • Most trustworthy babysitter: Ellen DeGeneres and her partner Portia De Rossi.
  • Best mom: Jennifer Garner, followed by a tie between Reese Witherspoon
...

Recession Strikes Noses as Thrifty Delay Laundry

Recession prompts thrift at the laundromat

(Newser) - The recession may be making the US a little smellier, the Pittsburgh Post-Gazette reports. Americans are scrimping on laundry by buying cheaper detergent, dry cleaning less often and—in the case of 60% of shoppers, according to one poll—wearing clothes multiple times between washings.

Europe's Jobless Thrive as US Counterparts Struggle

European safety nets make joblessness easier, recovery more difficult

(Newser) - On either side of the Atlantic, different narratives are playing out among the unemployed, the Wall Street Journal reports. While Americans left jobless by the recession struggle to pay insurance and bills, Europe’s social safety nets provide many with the majority of their former incomes and cover health-care costs....

Stress-Tested Banks Need Just $100B

Investors find causes for optimism in capitalization news

(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared....

20% of Americans Drop Landline for Cell: Study

20% of households only use cell phones

(Newser) - As Americans trim their spending, more are getting rid of landlines. In the second half of last year, 20% of households had only cell phones, outnumbering for the first time the 17% who had just landlines. The 3% jump from the first half of 2008 is the largest increase since...

Recession Chic: Quirky Out, Blond In

(Newser) - The economy is in freefall, which makes it a good time to be blond, the Times of London reports. Flip through the latest Vogue, and you’ll see page after page of blond-haired, blue-eyed beauties—a shift from the “quirky” faces sought after in recent years to grab the...

Hiring Healthy, Even During Downturn

Dire employment figures disguise huge amount of vacancies opening up

(Newser) - Grim unemployment figures are disguising the fact that hiring has stayed surprisingly strong in the midst of the worst postwar recession, economists tell the New York Times. In February—long before any hint of recovery emerged—4.8 million workers lost their jobs, but 4.3 million people were hired,...

Communists Rise in Japan
 Communists Rise in Japan 
May 5, 2009 3:57 AM CDT

Communists Rise in Japan

Young Japanese see red over lack of workers' rights

(Newser) - The recession has reversed a long slide in the fortunes of the Japanese Communist Party, the BBC reports. The party had been shrinking for decades, but membership is now growing at the rate of a thousand people a month. Young people—introduced to Communist ideology through efforts like a manga...

In Hard Times, Big Donors Don't Flaunt It

Some seek subtlety as neighbors struggle

(Newser) - In hard times, big givers are staying out of the spotlight, the Chronicle of Philanthropy reports. Some 19% of donations of $1 million or more in the past 10 months have been anonymous, compared with 3%-5% over the past 10 years. Donors often stay nameless to keep other charities from...

Falling Wages Compound Economic Woes
Falling Wages Compound Economic Woes
OPINION
May 4, 2009 8:00 AM CDT

Falling Wages Compound Economic Woes

Without new stimulus, US faces Japan-style slump: Krugman

(Newser) - From bailed-out automakers to newspapers facing cutbacks, companies across the US are slashing wages, and employees—even those with unions—are sitting still for it. While cuts may look like a good alternative to unemployment, but they're more harmful than they appear, writes Paul Krugman in the New York Times....

Stress Tests Expected to Show Confidence in Banks

Administration ready to say bailout worked

(Newser) - The top US banks may not be as deep in the mud as analysts fear, government "stress tests" out Thursday are expected to show. Officials seem ready to argue that the nation's financial system is recovering and won't require more bailout funds from Congress. "None of these banks...

Cure for Dead Lawns at Foreclosures: Green Paint

Recession has left entire neighborhoods in need of quick spray

(Newser) - California’s Riverside County is looking a little greener these days—just don't look too closely. The area has been so racked by foreclosures and unsold homes that parts of it look like a ghost town, complete with very dead grass. That’s where Insta-Green comes in. The start-up has...

Buffett: US 'Doing the Right Things'

(Newser) - Warren Buffett said today the US government is taking the correct actions to help the economy recover. "The government is doing the right things," Buffett said before the opening of Berkshire Hathaway's annual shareholder meeting. "They're acting in a countercyclical manner." But he said he can't...

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