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Recession Briefing: Shoes are Recession-Proof!

The news you need to survive and thrive in recession.

Clothes, cars and houses aren’t on the list these days, but one thing people are still spending on the recession is shoes. (NY Times) Here’s how to spend less–if you want to. (Recessionwire)

The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September. (New York Times)

The House voted yesterday to expand a popular tax credit for home buyers. The bill, which also extends unemployment benefits and expands a tax break for money-losing businesses, now goes to President Obama, who plans to sign it today. (Boston Globe)

LA’s homeless population is dropping despite the downturn–by a whopping 38 percent in two years. (LA Times)

Mexico’s president says his country is no longer in a recession. Well, nyah-nyah to you, too. (Latin American Herald Tribune)

Economists, on average, expect unemployment to peak in February 2010 — eight months after the recession’s assumed end. Even that forecast might be optimistic. (Wall Street Journal)

The downturn has increased the number of cycling deaths in Britain, since many more people are riding bikes to save money. (Daily Mail)

As the economy has fallen, embezzlement and employee theft have increased, according to some experts, who suggest the rise is a reflection of fiscal strain and low morale. (Las Vegas Sun)

So far, 7.5 million jobs have been lost in this recession, and the lion’s share of them — 75 percent — were held by men. Meanwhile, more and more women have had to become their family’s primary source of income. (NPR)

In a speech about deficits and economic recovery, White House Budget Director Peter Orszag described how the deep recession will have lifelong impact on today’s college students. (McClatchy)

Famed hedge fund manager Jim Chanos says there are eight things investors should have learned from the recession–and damn well should remember. (The Business Insider)

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Tags: economy, real estate, shopping, The Working World