Recession Briefing 6.26

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

U.S. limousine companies are laying off workers and closing offices as the recession cuts into demand for the shiny black symbols of wealth and power. (Reuters)

The income of Americans soared in May because of the government’s economic stimulus, leading them to increase spending modestly and boost the saving rate to the highest in 15 years. (Wall Street Journal)

Over the next three months, more than 3,200 post offices and retail outlets — out of 34,000 — will be reviewed for possible closure or consolidation. (The Big Money)

According to a study, the economic downturn is making Britons mean, with people ignoring friends’ birthdays and refusing to buy rounds of drinks in the pub. (WalesOnline)

Initial claims for jobless benefits clicked higher once again this week, but amidst that grim news there are hopeful signs that the employment picture may soon improve. (TIME)…

From Dual Income to No Income

When couples get hitched they agree, often in front of large audiences, to support each other through the thick and thin. It’s well understood that there will be times when one of the partners in the union will need a bit of propping up. But what happens when both partners need a boost? As the nation continues to wade through waves of unemployment, many households are going from two regular paychecks to no paychecks at all, reports Joann Lublin in The Wall Street Journal.

Talk about putting a strain on a marriage. In April, the national unemployment rate continued its climb to 8.9 percent as the number of jobless Americans went from 563,000 to 13.7 million according to the National Bureau of Labor Statistics. …