News

Recession Briefing 12.7: We’ll All Be Temps Soon

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

Some experts predict that temporary workers could constitute up to a quarter of the workforce in a few years. (USA Today)

With a record 5.9 million Americans who have been jobless for at least six months, many out-of-work professionals and managers, engineers and teachers have turned, in desperation, to holiday-season jobs as sales clerks. (Associated Press)

In less than two years, many of the biggest overseas government investment funds, known as sovereign wealth funds, have reaped huge gains from bailing out financial institutions, and in turn, the global financial system. (New York Times)

While the overall unemployment rate for Americans fell in November, the jobless gap between African-Americans and all other races actually rose, continuing a disturbing trend that has many lawmakers up in arms. (CNN/Money)

Comparing job losses in recessions and a depression. (TIME)

The Obama administration is planning to slash its estimate of the losses from the government’s bailout package by about $200 billion. (Washington Post)

Ninety-three percent of charity leaders said their organizations are feeling the effects of the economic downturn. (Chronicle of Philanthropy)

With unemployment still high and salaries in suspended animation, few people are going crazy on holiday spending this year. But even those planning to spend modest amounts should take some time to think about what their shopping budgets really buy. (Wall Street Journal)

“It’s time for the government to acknowledge the flaws in its program and create one that might actually succeed,” writes Gretchen Morgenstern. “Only then will the supply of homes for sale, and the pressure on prices associated with that overhang, be reduced.” (New York Times)

Traders are asking whether the strengthening economy will lead the Federal Reserve to start raising rates or scale back its stimulus measures, and whether the dollar, responding to higher rates, will reverse its long slide. (Associated Press)

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