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Recession Briefing: Even (Real) Sharks Face Recession

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

The number of shark attacks in the U.S. declined for the second straight year, falling to their lowest level in more than a decade, and researcher George Burgess credits the recession. (Gainesville Sun)

A federal bankruptcy judge in Manhattan has approved the fiercely disputed method used by the court-appointed trustee to calculate victim losses in Bernard L. Madoff’s enormous Ponzi scheme. (New York Times)

Throughout the recession, many entrepreneurs trimmed their payrolls, among other big expenses. There have been tentative moves by some larger companies to rescind salary cuts for remaining employees, but few are rehiring the workers they cut. (Wall Street Journal)

It’s hard enough to find a job in this economy, and now some people are facing another hurdle: Potential employers are holding their credit histories against them. Lawmakers in at least 16 states have proposed outlawing most checks, saying the practice traps people in debt because their past financial problems prevent them from finding work. (Associated Press)

Consumers spent more and saved less in January, according to government data released Monday, a sign that Americans feel increasingly secure about their financial situation, economists said. There is a growing consensus that consumers’ newfound frugality was just a fling. (Washington Post)

White House economic adviser Larry Summers said on Monday winter blizzards were likely to “distort” U.S. February jobless figures, which are due to be released on Friday. (Reuters)

Twenty-eight percent of wealthy Americans say the recession has caused them to cut back on the total amount of money they give to charity, according to the annual Wealth and Values Survey, by PNC Wealth Management. (Chronicle of Philanthropy)

As Washington debates new job-creation initiatives, one federal program already in place is hitting obstacles to boosting employment — in part because the program itself could use some more staffers. (Wall Street Journal)

Without record levels of welfare, unemployment and other government benefits as well as tax cuts last year, the income of U.S. households would have plunged by an astonishing $723 billion — more than four times the record $167 billion drop reported last month by the Commerce Department. (Washington Times)

After months of opening their mutual fund statements with great trepidation, have Americans regained confidence that investing can bring them retirement security? (WBUR)

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