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Recession Briefing: Job Doesn’t Equal Happy

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

Even Americans who are lucky enough to have work in this economy are becoming more unhappy with their jobs, according to a new survey that found only 45 percent of Americans are satisfied with their work. (Associated Press)

Hit by the recession, many families are moving their children from private to public schools. The shift is already bringing subtle changes to the culture of many public schools as some families seek the personal attention they received from private schools. (USA Today)

As the sour economy leaves people less and less able to pay their debts, the abuses by debt collectors have become so flagrant and numerous that authorities have moved to shut down several agencies where the most heartless and bullying telephone calls originated. At least 20 people have been sued or arrested on criminal charges. (Associated Press)

The number of houses placed under contract fell sharply in November in the first drop in nearly a year. It was the clearest sign yet that predictions of another downturn in real estate may become a reality. (New York Times)

Americans enter 2010 as optimistic about the economy as they have been at any time over the past two years. Still, perceptions of job-market conditions are about the same as they were both a month ago and a year ago. (Gallup)

Goldman Sachs board member and Harvard professor Bill George defended the firm’s massive bonuses and compared employees’ compensation to that of professional athletes and movie stars during a recent interview. (Huffington Post)

Wall Street investors may be breathing a sigh of relief as the financial crisis fades, but academic economists say we’re nowhere close to making sure it won’t happen again. (Wall Street Journal)

We’re probably stuck with several more years of slow growth in jobs and income, writes Steven Pearlstein. The only important question is whether we’ll use this opportunity to lay the foundation for another generation of sustained prosperity, or get sidetracked by chasing after short-term stimulus and overzealous deficit reduction. (Washington Post)

Nearly three-quarters of American workers could find themselves with stagnant or declining incomes going forward, unless they drastically improve their competitiveness. The root cause, McKinsey concluded, is that “too few have the skills for attractive jobs and, as a consequence, too many workers are employed in industries and occupations where demand has been falling, incomes have stood still, or both.” (Forbes)

An increased commitment to stimulating the economy could stimulate both higher taxes and higher interest rates, writes Douglas McIntire. Those could cause another recession as well. (Daily Finance)

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Tags: children, credit, debt, education, jobs, real estate, taxes