Recession Briefing 6.16

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

The Obama administration has turned back pleas for emergency aid from one of the biggest remaining threats to the economy — the state of California. (Washington Post)

Credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed. (New York Times)

As the recession lingers on, more travelers are redeeming their frequent flyer miles. (USA Today) But credit card companies have said they may be reducing rewards. (Recessionwire)

Many companies are turning to a novel but unheralded program known as work-sharing, where employers reduce their workers’ weekly hours, often by 20 or 40 percent, and then states make up some of the lost wages. (New York Times)

Since the recession started blocking many traditional career paths, record numbers of 20-somethings, and even many established professionals, have ventured out on a new track: public service. (Houston Chronicle)

Like many Americans who have been forced to redefine success because of the recession, laid off auto worker Troy Long is trying to shrug off his misfortune and become a professional wrestler. (Washington Post)

The not-so-great financial lessons we learned from board games as kids. (The Big Money)

Still lucky enough to have a job? You’re likely doing the work of two or three people, working longer hours and not getting any extra pay. (CNN/Money)

Everyone knows how the recession has impacted job seekers — there are fewer jobs and lots more competition — but here’s what it looks like from an employer’s side. (U.S. News & World Report)

High style at low prices may be possible for smart shoppers — many of whom are finding the best deals at their neighbors’ houses. (CBS News)

If you come across a good article or blog post about the recession pass it on. To receive Recession Briefing in your inbox, subscribe to our daily email.

Recession Briefing 6.15

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

Vegetable seed producers and merchants across the country are reporting sales increases of as much as 75% this year, and even some shortages, especially of staples like beans, potatoes and lettuces. (Washington Post)

Fake furloughs: Some workers work through their unpaid vacations, because they fear for the long-term safety of their positions and hope their self-sacrifice impresses the management. (New York Times)

The downturn is forcing men to spend more time at home, altering roles everywhere from the laundry room to the child-care center. (Christian Science Monitor)

Recession Briefing 6.12

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

The recession is helping to ease the country’s nursing shortage, as workers who had left the field in better times are returning in droves. (Wall Street Journal)

The brute force of the recession has wiped out a staggering $1.3 trillion in wealth for Americans in the first quarter. Americans’ net worth declined 2.6 percent in this period, the Federal Reserve said. (Associated Press)

Because of the downturn, some friendships between two people whose Saturday-night spending and overall class status used to calibrate precisely have now turned trickier. (Slate)…

Recession Briefing 6.11

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

Many strip clubs are shedding their upscale trappings and catering to a thriftier clientele by offering less expensive drinks and waiving cover charges. (Wall Street Journal)

A Florida man has turned a 77-square-foot closet into his home, thus reducing his rent to $150 per month. (WPTV)

The Undies Indicator: During a recession, men’s underwear is among the first things that people stop buying. When underwear sales increase, it should signal an uptick in consumer demand. (CNBC)…

Recession Briefing 6.10

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

Congress has approved a “cash for clunkers” bill that aims to boost new auto sales by allowing consumers to turn in their gas-guzzling cars and trucks for vouchers worth up to $4,500 toward more fuel-efficient vehicles. (Associated Press)

Nigerian email scammers have adapted to the recession and are starting to target job seekers. (Gawker)

Seventy-one percent of high-school guidance counselors this year saw an increase in the number of their students who chose a more-affordable option over their “dream school,” according to a survey. (Chronicle of Higher Education)…

Recession Briefing 6.9

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

Some airlines are dropping cutlery from their meal kits — or making spoons and forks fractionally smaller — in order to shed weight and save money on fuel costs. (Daily Telegraph)

“I would not be surprised if the official end of the U.S. recession ends up being, in retrospect, dated sometime this summer,” Nobel Prize-winning economist Paul Krugman said yesterday. (Daily Finance)

For fine art, the recession may turn out to be inspirational. A wave of small-scale, independent initiatives is leading a shift toward a rediscovery of accessibility and classical skills. (New York Times)

Recession Briefing 6.8

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

Budget weddings are in vogue this recession. The average cost of a wedding in the U.S. was $19,212 in the first quarter, down from $21,814 last year and $26,450 in 2005. (Wall Street Journal) Tips to recession-proof your wedding here.

Evidently the recession means that some semi-employed hipsters in their mid-20s can no longer rely on a monthly check from their parents. (New York Times)

“Motorists unable to afford payments on pricey cars and gas-guzzling sport utility vehicles in this recession are turning to a time-tested financing solution: matches.” (Los Angeles Times)

The recession’s grip loosened slightly this spring as seasonal hiring picked up and helped offset rising bankruptcies and foreclosures. But predictions on when the recession will end continue to vary. (Associated Press, Recessionwire)…

Recession Briefing 6.5

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

The recession has sparked a growing phenomenon of people dressing up as superheroes to perform community service, help the homeless and even fight crime. Superheroes also emerged as figures in the Great Depression. (CNN, Recessionwire)

Instead of feeling self-conscious about spending less, people are flaunting their frugality. Both those who have lost income and those who simply fear they may become at risk are part of the new discourse. (Washington Post)

The official unemployment rate doesn’t include millions of “involuntary part-time workers,” or those who grew discouraged and stopped looking for work. Once they are added to the unemployment mix, the April rate would be 15.8 percent. (Associated Press) Are you among the “Screwed” by the economy? See our Laid-Off 101 guide...

Recession Briefing 6.4

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

Bankruptcy filings in the U.S. are now taking place at a rate of 6,000 per day, and are on pace to reach 1.5 million this year. (USA Today)

The former chair of the Federal Reserve, Alan Greenspan, said Thursday that the government has lost credibility on economic matters and is largely to blame for allowing the nation’s biggest banks to become “too big to fail.” (Huffington Post)

New York has begun renting vacant luxury apartments to house the city’s growing homeless population. “Granite countertops. Terraces. Marble bathrooms. Walk-in closets.” (New York Daily News)

Recession Briefing 6.3

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

With American college costs rising, and the American dollar strong against the Canadian currency, more and more high school students are looking to Canadian universities for their college education. (New York Times/The Choice)

Treasury Secretary Timothy Geithner is feeling the effects of the recession first-hand: Having moved his family to Washington, he has found himself unable to sell the family’s suburban home in New York — and now is renting it out instead. (Associated Press)

High-rolling broker to waiter: Some former Wall Street employees, highly trained and accustomed to comfortable salaries, are finding themselves forced to accept low-wage work. (Wall Street Journal)