News

Recession Briefing 10.26: Pre-Teens Striking Out on Their Own

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

Over the past two years, officials and experts have seen an increasing number of children leave home for life on the streets, including many under 13. (New York Times)

Staying put has become a national phenomenon. The rate of interstate migration is the lowest since the 1940s, the Census Bureau reports. (Chicago Tribune)

Nearly half a million workers 65 and older want to work but cannot find a job — more than five times the level early this decade and this group’s highest unemployment level since the Great Depression. (New York Times)

The big profits made by some of Wall Street’s leading banks are “hidden gifts” from the state, and taxpayer resentment of such companies is “justified,” George Soros said. (Financial Times)

The economy in the U.S. probably grew in the third quarter at the fastest pace in two years, economists said before reports this week. (Bloomberg)

The tally of bank failures this year easily broke past the No. 100 milestone on Friday night, with regulators announcing the year’s 106th closure. (CNN/Money)

As charities prepare for year-end donation drives, the worst recession in decades has given pause to the philanthropist next door. Investors who use donor-advised funds have been stymied because of stock losses. (Associated Press)

Turbulent political and economic times roiling the nation are expected to diminish initial participation by households in next year’s census. (Tennesseean)

It’s normal for Wall Street to recover more quickly than the job market in the wake of a recession. What’s different in this recovery is the extent to which the leading indicators are soaring ahead of the lagging ones. (BusinessWeek)

Sales of existing homes surged 9.4% in September as buyers raced to take advantage of the tax credit for first-time home buyers before it expires next month. (Los Angeles Times)

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Tags: economy, family, jobs, kids, philanthropy