Recession Briefing: 1 in 6 Blue-Collar Workers Laid Off

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

A new report says one of six U.S. blue collar-workers lost their jobs in the recession. The statistics for construction and manufacturing workers mirror those of the Great Depression, when one in six workers lost a job. (United Press International)

Singer Billy Bragg has threatened to stop paying taxes, and called on others to follow suit, unless the British government acts to limit bonuses paid by the Royal Bank of Scotland. (Reuters)

The suburbs are home to America’s largest and fastest growing poor population, according to a Brookings Institution report. The increase reflects continued population growth in the suburbs in addition to the aftermath of the housing bust and the longstanding woes in the manufacturing sector. (WSJ/Real Time Economics)…

Screwed: 5,700 at Peugeot Citroen

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

Today’s Total: 8,789

European car maker Peugeot Citroen has cut 5,700 French jobs… Finnish ship engine maker Wartsila Corp. plans to lay off 1,400 employees world-wide… 800 teachers of the Vancouver School Board are receiving warning letters which prepare them for the possibility of layoffs… Florida’s Broward School District will eliminate 475 jobs unless a budget cut is made… Maryland Gov. O’Malley’s proposed budget includes the elimination 0f 202 positions, 158 of which are vacant… The proposed Kansas City budget for 2010-11 includes 187 job cuts, 107 of which are vacant positions… The Charlotte Observer is laying off 25 staff in response to declining revenue…

How Credit Card Companies Are Making Nice

And you thought credit card companies held all the…well, cards.

Now they’re getting battered by the recession, as some consumers get smart about credit, and others get so broke they can’t pay at all. Then there are the new rules coming down from Washington.

So credit card companies are changing the way they play (a little). Lenders are actually getting friendlier…

Broadway, Movies, the Opera — for Free (or Almost Free)

Going to opera and the theater feeds the soul, but drains the purse. As a result, LearnVest brings you some budget-minded ways to enjoy the performing arts:

1. Join a Membership Group

In cities that support a major opera house, there is often the option to join a young subscriber club, often called a “BRAVO! Club.” For example, the Seattle Opera’s BRAVO! Club is available for people between the ages of 21 and 39. Membership costs $65 per year and provides discounted tickets (as much as half off!), special member events, and complimentary wine and coffee during intermission. To give you an idea of their usual prices, tickets for the upcoming show of Falstaff in the Dress Circle cost at least $140…

Recession Briefing: Economist Blames Foreigners for Financial Meltdown

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

NBC’s late night fiasco has become the perfect allegory for the Great Recession. And just as with the financial meltdown, it looks like this fiasco will end with the same corporate screw-ups still in their jobs, no real change, and everything back to more or less where it was when the whole thing started. (New York/Daily Intel)

Bank robberies plunged nearly 20% last year to their lowest point in at least a decade even as Americans grappled with a deep recession and widespread unemployment. (USA Today)

Much of the fault of the financial crisis has been heaped on Wall Streeters, unscrupulous mortgage lenders and weak regulators. But in a new research paper, economist Ricardo Caballero says there is another major group of contributors to America’s monetary mess who are not getting the blame they deserve: foreigners. (Time)…

Screwed: 4,000 at Philippine Airlines

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

Today’s Total: 4,589

Philippine Airlines plans to lay off 4,000 workers to avoid bankruptcy. … In Turkey, Izmir Demir Celik Sanayi AS will cut 177 employees. … As part of a restructuring plan, Cadence Design Systems in San Jose, Calif., will lay off 120 workers. … The Moraine Berry Co. in Dayton, Oh., will see 105 employees let go as a result of a focus on digital operations. … Douglas Battery Manufacturing will cut 90 workers with the sale of its industrial battery unit in North Carolina. .. Meredith Corporation cut 45 employees. … Boeing laid off 36 employees in its NASA Kennedy Space Center location. … The Reno, Nev., fire department issued 16 layoffs on Friday. … Eight to 10 employees are expected to be laid off this week by the city of Juneau, Alaska. ..Up to 450 employees could be cut from the Des Moines school system, including 300 teachers, depending on the budget. …

Six Things You Will Miss About Unemployment

There are a lot of people without jobs out there, and there are not a lot of openings. No matter how anxious you’re getting about your unemployed state, about a stalled career, about running out of money, just trust me–when you land a new gig, there are things you will miss about not having a job. So enjoy it while it lasts.

Here’s what I miss most:

Eating healthier

I ate way better when I didn’t have a job. I had more time to shop and cook and less stress-induced sugar cravings. Plus, there’s no vending machine in my house. I miss taking my time at the health food store and farmer’s market, hunting down healthy bargains and cooking up dishes that were good for me.

Being fitter

Less money for transportation means more walking and biking. More time on your hands means more time for the gym.

Naps

No explanation needed…

Instead of Ditching Your Day Job, You Could…

Feeling stuck in a job you hate? Get in line.

A recent survey of 5,000 households found that only 45 percent of Americans are satisfied with their jobs right now, the lowest level on record since the Conference Board research group began issuing the annual survey 22 years ago.

Why don’t these unhappy employees just leave if they’re so bummed out? It’s the economy, stupid. With unemployment levels at record highs, quitting a gig that pays the bills is not high on everyone’s list of comfortable risks…

Screwed: 300 at Sykes Enterprises, Inc.

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

Today’s Total: 500

Sykes Enterprises, Inc., a Milton-Freewater, OR based call center, is laying off 300 employees due to “the cyclical nature of contracts”… Universal Music Group has laid off 50 employees across its labels and divisions… 45 positions will be eliminated at the Fort Worth, TX Star Telegram… 40 attorneys and staff are being let go from the nationwide offices of Seyfarth Shaw… North Carolina plant Pepsi Bottling Ventures is cutting 35 jobs, about 20 percent of its workforce…

Recession Briefing: African-American Unemployment Rate Tops 17 Percent

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

Unemployment for African Americans is projected to reach a 25-year high this year, according to a study released Thursday by an economic think tank, with the national rate soaring to 17.2 percent and the rates in five states exceeding 20 percent. (Washington Post)

Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street’s pay culture. (Wall Street Journal)

The federal foreclosure prevention program was designed to help struggling homeowners reduce their monthly payments, but housing advocates say they frequently see homeowners rejected or kept in a trial modification for questionable reasons. “There’s a real resistance on the servicers’ part to making permanent modifications,” said Diane Thompson of the National Consumer Law Center. (ProPublica)…