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Recession Briefing 5.4

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

One type of business that’s doing well as people are scraping to make ends meet: dollar stores. (New York Times)

Another group of professionals faring pretty well? Lobbyists. (Associated Press)

Some law firms are saving money by deferring incoming associates that they have hired — at a cost of $80,000 a year. (CNN/Money)

Looking to live somewhere that’s recession-proof? A recent study has found that Jacksonville, N.C., Rochester, Minn., and Kennewick, Wash., are among the least affected. (MSNBC)

Faced with recession-era cuts, government agencies are cutting or shrinking programs that use renewable energy projects because traditional power sources are still cheaper. (USA Today)

Some economists think unemployment may remain high even after the recession has passed. Fallout from the recession implies a “markedly higher” natural rate of unemployment, says Edmund Phelps, a professor at Columbia University. (Bloomberg)

“A new class of squatter has emerged, as people illegally remain in homes after they have lost them to the bank. Some have become aggressive in their efforts to stay, setting booby traps to ward off police.” (Washington Post)

In the U.K., the recession has fueled a sharp rise in financial crime, as the British government has upped prosecutions for fraud and tax evasion. (Guardian)

Wall Street is getting worried about the massive debt that the U.S. government has been racking up during the recession — and whether it will mean rising market interest rates. (New York Times)

Americans have long been enamored of personal finance columns and television shows, writes Helaine Olen. The downturn has shown that advice to be garbage. (The Big Money)

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

Tags: business, economy, shopping, Washington