The Recession Ended… in September

Says who: U.S. Commerce Secretary Gary Locke, as the department reported a 3.5 percent growth in the GDP in the third quarter following six quarters of decline.

“Today’s numbers indicate that the tough decisions this administration made to rescue the economy from the abyss were correct. We’re headed in the right direction, and even though there are still too many Americans out of work and still much work to be done, without the action taken in the early days of this administration, the pain families are feeling today would be much worse.” (Commerce Department press release)…

Video: America’s “Great Unwind”

One should always be skeptical when a guy who makes his living from selling people stuff they don’t need starts talking about “empowering” consumers and how great it is that people are shopping less.And there are some annoying, ad-guy aspects to the talk John Gerzema, chief insights officer of Young and Rubicam, gave at the TED conference.

That said, he’s not wrong. From the start of the downturn, we saw changes developing in society—people would think differently about money…

Recession Brieifing 11.03: The Underwear Model of Economics

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

The “underwear model” as an economic metric has recently gained in popularity, following Alan Greenspan’s to an NPR correspondent to the effect that the less men’s underwear is sold the worse off the economy. But the metric might not be as revealing as it’s purported to be. (New York Mag)

The pain of the financial crisis has economists striving to understand precisely why it happened and how to prevent a repeat. (Wall Street Journal)

Artist Andres Zapata has been working on a project called Recession Nation, collected photos, short stories, visual art and poems from Baltimore and abroad. He recently published them in the book “The Recession Nation Project.” (Baltimore Sun)…

Screwed: 5,700 at Nokia Siemens Networks

A daily review of the employment fallout around the country and the world.

Today’s Total: 12,402

Nokia Siemens Networks has plans to lay off 5,700 workers globally as a cost-cutting measure… The Royal Bank of Scotland will lay off 3,700 staff members as part of a company-led “modernization program”… UPM-Kymenne Corp., the world’s largest magazine paper manufacturer, has laid off 870 Finnish employees in response to the industry’s downturn… On Monday, Iowa announced preliminary plans to lay off 792 employees of the state…

Cost-Cutting at College—Separating the Good from the Bad

Tuition costs are rising and financial aid funds are scarce, but that doesn’t mean you should sit back and watch your college dreams go up in smoke.

Since the recession began last year, thousands of tips and tricks have been published listing ways to make college more affordable. From small shifts (like buying used textbooks rather than new) to big changes (like moving off campus to save on housing), there’s no doubt that the thousands of published ideas could save students money. But whether many—or any—of these ideas are actually feasible for the average student is another story entirely…

How to Turn a Phone Interview into a Face-to-Face

When time and budgets are tight many employers start their interview process with a phone interview. Though it may sound like a lower hurdle than an in-person meeting, that’s not necessarily true. There are things you need to know to get you to a meeting with the hiring manager—and eventually, to a fantastic new job.

DO

Be positive and energetic. Remember that the person interviewing you can’t see any body language and can only read the inflection of your voice. Practice this if you need to—and if you have trouble with it, put a mirror in front of you to watch your face as you are talking on the phone.

Show you’re listening. The occasional “I see,” “Yes,” “Great,” make for a better conversation—as do any positive vibes you can give during pauses…

Recession Briefing 11.02: Wallets Thinner, Waistlines Thicker

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

Wallets may have gotten thinner during this recession, but waistlines have expanded. Many consumers are turning to cheaper fare to better balance their budgets. That often means fast food and canned and frozen processed foods that are higher in fat and calories. (Wall Street Journal)

The American public is starting to get more than mildly annoyed at those who tell them the economy is bouncing back, writes Terry Savage. For every economist or politician who tells you the recession is over, there are a dozen people who think we’re in the midst of a depression. (Chicago Sun-Times)

“Unfortunately,” says John Ryding, chief economist at RDQ Economics, “you have as many views of the economy going forward as you have letters of the alphabet to describe recovery.” (New York Times)…

Screwed: 525 in Delaware

A daily review of the employment fallout around the country and the world.

Today’s Total: 1,036

Delaware is eliminating 525 vacant jobs…Bath Iron Works says it will lay off 191 workers this month…Denver will let go at least 170…Sitel call center in Tennessee will lay off 112…