News

Recession Briefing 4.21

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

Recession indicator of the day: The amount of trash hauled by garbage removal companies across the U.S. is down for the second straight year. (Philadelphia Inquirer)

Faced with tough economic conditions, companies are trying a variety of methods to keep from having to lay off employees. About 1 in 4 companies have cut workers’ hours by some degree, 7% have gone to a four-day workweek. (Los Angeles Times)

A new survey has found that the economy is still in decline, but that the recession is starting to let up. Companies are beginning to see rising demand for their products, tapering plans for job cuts and reporting profit margins on the uptick. (Associated Press)

With its jobless rate climbing toward 20%, Spain is seeing retail prices drop. The country’s plight is sparking fears of deflation across the European Union. (New York Times)

With steadily rising tuition costs and bleak job prospects for graduates, default rates on student loans are soaring. (Wall Street Journal)

The financial services industry is fighting a key part of the Obama administration’s foreclosure rescue program that would permit bankruptcy judges to cut the principal owed by mortgage borrowers. (Washington Post)

Parents hit by the recession are rethinking the amount of money they spend on special programs and activities for their kids. (Newark Star-Ledger)

After years of conspicuous consumption, Americans are getting more “thrifty” in their purchases. “Consumers will plan purchases more carefully. Seventy percent say they won’t delay if it will save them money in the long run.” (Fortune)

The recession hits the police blotter: A couple is charged with shoplifting $18 worth of diapers from a supermarket last weekend. Shoplifting arrests have increased by nearly 80 percent from 2007 to 2008 in Washington’s Kootenai County. (Spokesman-Review)

Traveling during the recession has its good points and its bad. You may be paying extra for that checked bag, but the soft economy has already forced travel companies to “focus on … value and service.” (CNN)

If you come across a good article or blog post about the recession pass it on.

Tags: economy, employers, layoffs, shoplifting, trash