News

Recession Briefing 5.14

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

Despite the sour economy, mainstream music has been remarkably free of songs about tough times. Country music seems to be the exception. (Associated Press)

Dollar stores are cleaning up: Nearly half of all U.S. households now shop at the low-price stores each month. (Los Angeles Times)

Faced with tough economic realities, more adult children are moving back into their parents’ homes. The AARP found that 11% of adults between 35 and 44 were living with their parents or in-laws. (New York Times)

More than half (55 per cent) of employees are working from home more frequently since the financial crisis began. (BusinessWeek)

New unemployment claims rose to 637,000 last week, despite expectations that they would fall. Ongoing claims also set a record at 6.56 million. (Bloomberg)

With a growing number of people competing for a dwindling number of job openings, some employers are driving down pay and benefits for new hires. (Associated Press)

Not so long ago, three-button power suits — slickly conservative, oversize and overpriced — blared of Wall Street success. Now, with banking out of fashion, the suits are remaining on the racks at retail stores. (New York Times)

Responding to the recession, many top universities are shrinking their PhD programs. (Inside Higher Ed)

Many Americans are driving less in order to save money, but with gas prices down from last summer road trips are poised to make a comeback. (Wall Street Journal)

Retail sales fell unexpectedly in April, indicating that rising unemployment is prompting consumers to conserve cash. (Bloomberg)

Tips for using credit to help you manage your cash flow and get back to the work of delivering great products and services. (Recessionwire)

Direct-sales businesses that rely on home-based representatives to peddle their wares are seeing their sales forces rapidly expand. (USA Today)

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: country music, employers, layoffs, music, The Unemployed Life