Recession Briefing: Paulson Defends AIG Rescue

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

In last night’s State of the Union Address, President Obama promised to focus intently on the issue of most immediate concern to the nation: jobs. Obama sought to restore public confidence in his administration and to persuade Americans that he is directing his attention more fully to the economy. (New York Times)

Hit by the recession, Mexican migrants sent home 15.7% less in remittances last year, a record drop, the country’s central bank reports. Although it marked the second straight yearly decline — and the second drop since tracking began in 1996 — migrants still sent home big bucks: about $21.2 billion. (USA Today/On Deadline)

College and university endowments in the United States and Canada collectively lost $93 billion during the 2009 fiscal year, according to a study jointly released Thursday. The average institution lost 18.7% after fees. (Forbes)…

Cost-Cutting at College—Separating the Good from the Bad

Tuition costs are rising and financial aid funds are scarce, but that doesn’t mean you should sit back and watch your college dreams go up in smoke.

Since the recession began last year, thousands of tips and tricks have been published listing ways to make college more affordable. From small shifts (like buying used textbooks rather than new) to big changes (like moving off campus to save on housing), there’s no doubt that the thousands of published ideas could save students money. But whether many—or any—of these ideas are actually feasible for the average student is another story entirely…

Recession Briefing 9.2: The Peril of Jury Duty

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

Few people like jury duty. But for many people squeezed by the recession, a jury summons holds a new fear: financial ruin. (New York Times)

American manufacturing expanded for the first time in 19 months, and pending sales of existing homes rose more than forecast, indicating the recession has ended. (Bloomberg)

We’ve all met 20-somethings who’ve been coddled by their parents and seem to expect everything to be handed to them. But the economy might just be changing Gen Y’s outlook. (Marketplace)…

The Recession Will End… When I Can Afford College

Says who: College Board, the not-for-profit responsible for the SAT, the PSAT/NMSQT, and the Advanced Placement Program

“Our studentPOLL study, a random national sample of high school seniors who registered and/or took the SAT, found that the recession is having a considerable impact on two-thirds of these students and their families. Nearly one-third indicated that their parents’ income had declined, 23 percent reported that their family had fallen on hard times, and one in six revealed that the current economic circumstances have forced them to change their college plans.” (via College Board)

Why it might be false: In a recent Gallup poll commissioned by student loan provider Sallie Mae, more than half of U.S. parents indicated that they plan to pay for all or part of their children’s college expenses with their current income and are confident they can continue to support them despite the recession…

Recession Briefing 8.31: Men’s Underwear Sales Dip

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

The recession is taking its toll on New York’s cocaine dealers: “You’re gonna find me at the post office if this goes on for much longer,” says one. (New York/Daily Intel)

Sales of men’s underwear typically are stable because they rank as a necessity. But during times of severe financial strain, men will try to stretch the time between buying new pairs, causing underwear sales to dip. (Washington Post)

To help pare their budgets, more Americans are bypassing the salon and opting to lop off their own locks. The results, can be shear disaster — clogged drains, fresh cowlicks and crooked trims. (Wall Street Journal)…

10 Deals for Back to School

There are lots of ways to cut back on your back to school budget — you might, for instance, do a full inventory of any pencils and scissors you have in the house. But if you do have to get to the store for some missing items, you’ll find lots of retailers are eager for your business. According to the National Retail Federation, back to school spending is expected to fall by 7.7 percent this season, while more parents report plans to purchase hand-me-downs at secondhand stores (though they’re also expected to increase spending on electronics, like laptops, by 11 percent).

The big chains are doing all they can to encourage you to buy from them at any price. And the government hopes to help, too, as several states are offering “tax holidays” for back to school shopping (see a list of states and dates here). We’ve compiled a list of some of the best deals out there…

Top Ten Jobs for Grads

The quest for employment isn’t hopeless for the class of 2009! There are promising jobs out there, if you know where to look.

Commencement for 2009 graduates is quickly approaching. The search for entry-level employment is never easy for recent grads, and today’s economy is no help. It seems like a fair share of students, myself included, fear graduation day like the rest of the country fears layoffs. According to the Job Outlook 2009 survey of the National Association of Colleges and Employers (NACE), employers plan to hire 22 percent fewer grads from the class of 2009 than they had from the class of 2008. Don’t panic! There are a number of jobs that look promising for 2009 grads. Here’s a list of ten (in no particular order), based on statistics from NACE and the Bureau of Labor Statistics:

1. Accountant and auditor
Straight forward and self explanatory. Accounting majors are on a direct path to this always-in demand career.

2. Database administrator
Careers in information systems management are on the rise as database systems are becoming an integral part of all business…

Do College Campuses Need a Recession-Reality Check?

Worries about the recession are keeping one college senior up at night…but is she alone?

Call me prudent. As a graduating college senior, I make it a point to invest thought in my career plans. Like most colleges, my state university offers the services of a Career Center, holds career fairs, and welcomes company recruiters to communicate with the student body.

Recently, I attended an information session held by a well-known publishing house; a company that I am very familiar with and would love to work for. Having already attended an info session for this publishing house before the media meltdown, I was familiar with their presentation. So familiar, I was having déjà vu while listening to the pitch. Economic developments and the drastic downturn in the print industry were obviously taboo at this meeting…