News

Recession Briefing 6.23

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

Barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy, according to a new poll. (Washington Post)

Lines at soup kitchens are growing across the U.S. as they cater to a growing number of families struggling to make ends meet. (Guardian)

Shelters are struggling to house the increasing numbers of pets being abandoned by cash-strapped owners. (CBS News/Early Show)

Many smokers are too stressed by the hard economic times to attempt to give up their habit, a new study suggests. (BBC)

With the recession making it tough to win new clients, small businesses are stretching their resources to keep loyal customers. (Wall Street Journal)

The world economy is headed into an era of slower growth, according to a World Bank report, with developing nations bearing the brunt of a stubborn credit crunch. (Washington Post)

“It’s dangerous to assume that what’s bad for the chains is good for the mom-and-pops,” writes Jonathan Weber. ”In this economy, a store closure is nothing to cheer about.” (The Big Money)

The nation’s foreclosure crisis — once largely confined to only a few corners of the country — is spreading to new areas as the economy teeters.(USA Today)

In a new survey by the Pew Research Center, 76 percent of Americans said they have cut back on vacation spending and eating at restaurants or have delayed buying a car or major home items. (Washington Post/Small Change)

Michigan has the highest unemployment rate of any state at 14.1 percent, a distinction the state has held for 25 of the last 26 months. Check out this map showing how hard various states have been affected by job loss. (Huffington Post)

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Tags: dining, food stamps, foreclosures, obama, The Unemployed Life