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Recession Briefing: Add a Job, Write it Off

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

President Barack Obama’s push to create jobs includes a new tax credit for small businesses that add employees. It is an idea, however, that fell flat in Congress when Obama first proposed it last year because lawmakers didn’t know how to target the credit effectively. (Associated Press)

“Recognizing that financial blowups are as dangerous as foreign enemies or nuclear weapons, Congress should establish … a ‘West Point for regulators,’” writes Jason Zweig. “A rigorous training program to instill expertise and ‘a sense of honor and duty.’” (Wall Street Journal)

Using data from the Bureau of Labor Statistics, this interactive map shows how counties across the U.S. are faring in terms of unemployment. (Washington Post)

President Obama will call for a three-year freeze in spending on many domestic programs, and for increases no greater than inflation after that, an initiative intended to signal his seriousness about cutting the budget deficit. (New York Times)

There are at least a few industries out there that might be considered recession-proof. Registered nurses, retail or sales associates, accountants, occupational therapists and financial advisors are in demand. (FoxNews.com)

The recession pushed shoppers to pick necessities over discretionary items, discounts over luxury. But retailers hope to shift such behavioral changes further in coming months, affecting what consumers will buy, pay and experience at stores. (USA Today)

Despite the likelihood of official figures today marking an end to the recession in the U.K., a study has revealed that fewer than one in 10 people in Britain believe their standard of living has improved in recent months. (Telegraph)

Sales of previously owned U.S. homes suffered a record drop last month as the boost from a popular tax credit waned, raising doubts the housing market recovery can be sustained without government support. (Reuters)

Does the country need more stimulus? Some economists advise lawmakers to do more — now. Others say that is exactly the wrong way to go. (CNN/Money)

“I am writing a novel. It is about the next Great Recession that will occur in this decade,” writes Jerry Chautin. “The book’s subtext will cite the next Great Real Estate Bubble as the cause.” (Huffington Post)

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Tags: jobs, real estate, shopping