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Recession Briefing 5.11

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

The recession’s lasting impact may be that Americans put more of their income into savings. “In the last year, the savings rate — the percentage of after-tax income that people do not spend — has risen to above 4 percent, from virtually zero.” (New York Times)

Is this the worst year to graduate college ever? “Ivy League grads with heaps of student loans are fighting over jeans-folding gigs at Forever 21,” reports Zac Bissonnette. (The Daily Beast)

Men increasingly suffer from recession-related depression, according to a new study. Almost 40% of men admit to feeling low at the moment with job security, work and money playing on their minds. (BBC News) This is also called recessed.

Officials overseeing the federal bailout suddenly find themselves flush with cash, just months after saying they might run out — but some expensive problems remain. (Washington Post)

Victims of the recession find that benefits vary wildly from state to state. (New York Times)

The recession is changing the culture of New York City in a variety of ways. “No money changes everything, from murder rates to museum attendance, from career choices to what you eat for dinner. And not all of it for the worse.” (New York Magazine)

Many Brits who can’t afford a summer holiday this year are getting brown by heading to local tanning salons more frequently. (Daily Mail)

As unemployment rises and the economy sinks further into recession, an old debate has become new again: the question of immigrants’ impact on the U.S. economy. (BusinessWeek)

“As endowments everywhere sink with the economy, town-gown relationships, often carefully nurtured during the boom years as colleges and universities sought to expand, are fraying.” (New York Times)

Are banks taking another bailout from taxpayers by hitting them with exorbitant credit card interest rates and fees? (ABC News)

With publishers cutting back and less willing to take risks on unknown authors, many are self-publishing their books — and some are getting discovered as a result. (Lexington Herald-Leader)

If you come across a good article or blog post about the recession pass it on. To receive Recession Briefing in your inbox, subscribe to our daily email.

Tags: bailout, budgets, credit cards, economy, personal finance, publishing