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Recession Briefing: Relationship Rockiness

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

Money doesn’t buy love and it doesn’t buy happiness, as we should all know by now. But money woes can certainly cause problems for couples, especially during the economic downturn. The bottom line: It’s complicated. (New York Times/City Room)

The Great Recession may be over, but this era of high joblessness is probably just beginning. Ultimately, it is likely to warp our politics, our culture, and the character of our society for years to come. (The Atlantic)

Finding a job got much tougher last year, as the number of available openings fell by nearly one quarter. At the same time, the unemployed population soared by more than one-third, leaving more laid-off workers competing for fewer jobs. (Associated Press)

More than 15 million homeowners are underwater on their mortgages, and many who would like to move are finding themselves stuck — unable to trade up to a larger house until the market improves. This is a big worry for the housing industry as the crucial spring season nears, when nearly a third of the year’s sales are made. (USA Today)

Salaried employees hoping their 2010 annual raise will provide some relief as they attempt to recover from the worst economic downturn in 80 years are likely to be disappointed: Raises for U.S. workers may barely keep pace with inflation this year. (Daily Finance)

Want more proof that the U.S. economy is still in a fragile state? Consider this. People are still holding back on buying burgers, soda and beer. So much for fast food, soft drinks and booze being recession-proof. (CNN/Money)

Senate Democrats prepared Tuesday to unveil an $85-billion jobs bill that would include payroll tax breaks for employers who create new jobs, aid to small businesses and other GOP-backed ideas to attack unemployment. (Los Angeles Times)

A new study shows that many people, when faced with a financial crisis, are not putting their mortgages first. TransUnion, one of the big credit bureaus, recently released a report showing that an increasing number of consumers are choosing to pay their credit card bills before their monthly mortgages. (Washington Post)

The Treasury Department has allocated $75 billion to entice lenders to let beleaguered borrowers stay in their homes. And the companies getting most of that money — well, they’re the same companies that got the borrowers into this mess. At least 21 of the top 25 recipients in the Home Affordable Modification Program were major subprime lenders. (Mother Jones)

The giant credit rating agency Standard & Poor’s issued a stark warning Tuesday to creditors of Citigroup and Bank of America, two firms that up until now had been considered “Too Big To Fail”. The message: We’re not so sure the U.S. government will bail them out again next time. (Huffington Post)

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