News

Recession Briefing 6.16

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

The Obama administration has turned back pleas for emergency aid from one of the biggest remaining threats to the economy — the state of California. (Washington Post)

Credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed. (New York Times)

As the recession lingers on, more travelers are redeeming their frequent flyer miles. (USA Today) But credit card companies have said they may be reducing rewards. (Recessionwire)

Many companies are turning to a novel but unheralded program known as work-sharing, where employers reduce their workers’ weekly hours, often by 20 or 40 percent, and then states make up some of the lost wages. (New York Times)

Since the recession started blocking many traditional career paths, record numbers of 20-somethings, and even many established professionals, have ventured out on a new track: public service. (Houston Chronicle)

Like many Americans who have been forced to redefine success because of the recession, laid off auto worker Troy Long is trying to shrug off his misfortune and become a professional wrestler. (Washington Post)

The not-so-great financial lessons we learned from board games as kids. (The Big Money)

Still lucky enough to have a job? You’re likely doing the work of two or three people, working longer hours and not getting any extra pay. (CNN/Money)

Everyone knows how the recession has impacted job seekers — there are fewer jobs and lots more competition — but here’s what it looks like from an employer’s side. (U.S. News & World Report)

High style at low prices may be possible for smart shoppers — many of whom are finding the best deals at their neighbors’ houses. (CBS News)

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: personal finance, politics, shopping, The Unemployed Life, travel