News

Recession Briefing 11.12: Women Take More Jobs

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

The composition of the nation’s work force is approaching an unprecedented benchmark. Due in part to deep layoffs of men, women are poised to become the majority of workers for the first time. (Wall Street Journal)

California has been pummeled by economic problems, but it may soon find that it is not alone. The Pew Center on the States said the nine other states “face hardships nearly as daunting” as California’s — including Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey, Illinois and Wisconsin. (Reuters)

For many families across the country, the greatest damage inflicted by this recession has not necessarily been financial, but emotional and psychological. Children, especially, have become hidden casualties, often absorbing more than their parents are fully aware of. (New York Times)

Foreclosures fell for the third-consecutive month in October, another sign the worst of the housing crisis may be past. RealtyTrac reports Thursday that foreclosure filings totaled 332,292 last month, down 3% from September but up 19% from a year earlier. (USA Today)

The number of Americans filing first-time claims for unemployment insurance fell last week to their lowest level this year, the government said Thursday. There were 502,000 initial job claims filed in the week ended Nov. 7, down from an upwardly revised 514,000 the previous week. (CNN/Money)

“What matters more: 3.5% growth or 10.2% unemployment?” asks Peter Brown. (Wall Street Journal)

Lots of Americans continue to travel overseas for medical and dental procedures, but the recession is expected to temporarily slow the astronomical growth rates that the medical tourism industry had enjoyed. (Tennesseean)

When 2010 dawns in several weeks, it will bring down the curtain on a decade in which a great deal and not much at all happened, economically and financially speaking, writes Daniel Gross. In fact, a startling number of contemporary indicators are at or below the levels at which they stood 10 years ago. (Slate)

The Federal Reserve’s activist response to the financial crisis has exposed it to immense political fallout. That will make it more difficult for the Fed to carry out its responsibilities of guiding the national economy out of a recession and withdrawing its emergency support for the economy at just the right time. (Washington Post)

Mark Zandi, chief economist for Moody’s Economy.com, said that between $125 billion and $150 billion in new stimulus, with about $50 billion to $60 billion of that going to further extensions in unemployment benefits beyond what was passed by Congress last week, is needed. (CNN/Money)

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.