News

Recession Briefing 2.6

What you need to know today to survive and thrive in the recession.

As Layoffs Surge, Women May Pass Men in Job Force (NYT)
Call her Ms. Breadwinner. With the recession stretching on, a milestone may be at hand: Women may surpass men on the nation’s payrolls, taking the majority for the first time in American history. How about some equal pay, too?

Comfort an Axed Coworker (Wired)
The higher-ups just called a special meeting in the conference room; thank God, you weren’t invited. But your work pal was…Here’s how you can help ease the pain.

Signs Point to the Housing Bottom (NY Daily News)
The end may be near. And this is good news. We could be approaching the bottom of the massive decline in home values in the U.S, according to a new study by Moody’s Economy.com.

Bipartisan Push to Trim Size of Stimulus Plan (NYT)
Latest downsizing victim? Members of a bipartisan group, led by Senators Ben Nelson (Democrat, Nebraska) and Susan Collins (Republican, Maine) aim to trim provisions that would not quickly create jobs or encourage spending.

States’ Jobless Funds Run Low (WSJ)
A growing number of states are running out of cash to pay unemployment benefits, a sign of how far social-welfare systems are being stretched by the swelling ranks of the jobless in the deteriorating U.S. economy.

Jobs, Washington Weigh On Street (Forbes)
Analysts expect upward of 500,000 jobs were trimmed from nonfarm payrolls in January, pushing unemployment up to 7.5%.

Estee Lauder Details Turnaround Plan Amid Recession (CNN Money)
In the midst of one of the toughest consumer environments in decades, Estee Lauder on Thursday announced an ambitious four-year turnaround plan, which includes a 6% reduction in its work force and an immediate freeze in merit pay increases.

Treasury Prices Up After Rise in Jobless Claims (AP)
Longer-term Treasury Prices Rose Thursday After the Government Revealed More Troubling Data About the Job Market. (AP)

Yen Gains on Speculation Exporters Buying It After Weekly Loss (Bloomberg)
The yen rose against the dollar on speculation its biggest drop in seven weeks yesterday encouraged local exporters to bring home some of their overseas earnings.

Read about layoffs at the sites compiled on our Layoff Tracker page.

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