News

Recession Briefing 8.19: The Penny’s New Popularity

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

The lowly penny is making a comeback as the recession puts a crimp in back-to-school sales. Spiral notebooks, batteries, markers, crayons, pencils and even some clothing are just a few of the items going for 1 cent these days. (Los Angeles Times)

How hard is it to find a job in your city? Here’s the number of unemployed per job posting for the 50 most populous metropolitan areas in the U.S. (Indeed)

“The United States economy is now out of the emergency room and appears to be on a slow path to recovery,” writes Warren Buffett. “But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects.” (New York Times)

Want to save a few bucks on fresh eggs? Get yourself a chicken. Many cities, including San Francisco and Indianapolis, are allowing residents to raise chickens in their homes. (Indianapolis Star)

Major retailers reported that American consumers are continuing to hunker down, casting a cloud over the durability of the U.S. recovery. (Wall Street Journal)

Over the past year, mutual fund fees have risen in nearly every category. According to Russel Kinnel, director of Mutual Fund Research at Morningstar and author of Fund Spy, the rising fees are actually a result of last year’s market plunge. (CBS Moneywatch)

As all burned investors now know, an economy mired in a deep recession acts like a powerful depressant on the stock market. But there is an antidepressant with the power to fix this financial mood disorder: an economy showing signs of recovery. (USA Today)

The country’s growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, according to bankers and economists, threatening to send even higher the number of borrowers who will lose their homes and making the foreclosure crisis far more complicated to unwind. (Washington Post)

The housing market showed further signs of stabilization in July, but weak demand dragged down prices for both raw materials and finished goods by a record margin. (Washington Post)

During the current economic crisis, high-flying women have been overlooked for promotion, according to a study by Catalyst. (CNN)

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.