recession

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US Bank Lending Falls at Fastest Rate in History

Figures spark renewed fears that feds are at a loss

(Newser) - The US bank lending rate has fallen its fastest in history, sparking renewed fears that the government hasn't done enough to prop up the economy and that America's troubles are far from over. Lending has plummeted $100 billion just since January, which amounts to a 16% annualized drop. Some $740...

MTV Tunes Recession Chic With New 16 and Pregnant

Down-to-earth shows much more in tune than 'Hills' et al.

(Newser) - MTV is definitely hip to the recession, with the proof no further than the new season of 16 and Pregnant , airing tonight. That show, plus others like Jersey Shore, show that “audiences seem to have tired of the contrived dramas” of The Hills or The City, “and the...

We Need to Fend Off the Recession's Social Blows
We Need to Fend Off the Recession's Social Blows
DAVID BROOKS
Feb 16, 2010 8:15 AM CST

We Need to Fend Off the Recession's Social Blows

Men have been hit hardest by high unemployment, writes David Brooks

(Newser) - America is facing a period of prolonged high unemployment that will require a strong response to stop the bonds of society from breaking, writes David Brooks. The recession's biggest impact has been on men, Brooks writes, noting that the gap between male and female unemployment is at its highest since...

Unemployment Falls to 9.7%
 Unemployment Falls to 9.7% 
Feb 5, 2010 7:40 AM CST

Unemployment Falls to 9.7%

It's the first time it's been under 10% in 4 months

(Newser) - The nation's unemployment rate fell unexpectedly to 9.7% in January, the Labor Department said today. The drop from 10% comes even as US employers cut another 20,000 jobs. The rate dropped because a survey of households found the number of employed Americans rose by 541,000. Overall, however,...

US Expected to Report 5K New Jobs

Economy adds jobs, but more than expected were lost

(Newser) - January was the second month since the recession began in December 2007 that payrolls grew instead of fell, the Labor Department is expected to say in a report due out today. Some 5,000 new jobs were likely added last month, reports Reuters . Close to 4,000 jobs were added...

Sin City Seethes Over 2nd Obama Diss

Vegas defenders: This time sorry isn't good enough

(Newser) - When President Obama said yesterday that families saving for college shouldn't blow money in Vegas, it was the second time he'd singled out Sin City as an example of excessive spending—and his words came as salt in the wounds of a tourism-dependent city hit hard by the recession. "...

Nonprofits Under Pressure: Merge or Die

Boom spawned many small charities now forced to close doors

(Newser) - The recession is ravaging the nonprofit sector, forcing many to consolidate or disappear, even as demand for their services rises. Over the past 15 years, the number of registered nonprofits doubled to 1.5 million organizations. Now, as funds dwindle—private donations fell 6% throughout the sector in 2008, their...

Larry Summers Coins a Phrase
 Larry Summers Coins a Phrase 
Jan 30, 2010 10:58 AM CST

Larry Summers Coins a Phrase

US experiencing a 'statistical recovery and a human recession'

(Newser) - The Wall Street Journal is taken with a phrase uttered by Larry Summers today at the Davos economic summit. The US is experiencing a "statistical recovery and a human recession," said the Obama economic adviser. The phrase "should resonate through much of the industrial world, where high...

Economy Growing at Fastest Pace Since 2003

Last quarter of 2009 saw GDP growth of 5.7%

(Newser) - The US economy grew for a second straight quarter from October through December, posting a better-than-expected 5.7% annual rate—the fastest quarterly pace since 2003. The Commerce Department report is the strongest evidence to date that the worst recession since the 1930s ended last year, though an academic panel...

Best Airfare Deals Are Now Tweeted, Emailed

Airlines ramp up discounts in promotional offers

(Newser) - The latest airfare deals aren't online or at travel agencies—they're targeted promotional fares, being emailed and tweeted to customers who sign up to receive them or who enroll in frequent-flier programs. These under-the-radar offers, an inexpensive form of advertising increasingly popular with recession-battered airlines, range from 10% discounts to...

Strapped States Raising Taxes on Employers

Critics say it's going to make joblessness worse

(Newser) - Massive unemployment is putting a strain on state benefit funds, and states in turn are trying to recoup the money by raising taxes on employers. In all, 36 states have raised payroll taxes, a strategy that critics say will backfire by putting a crimp on hiring. “Everything’s going...

Soaring Profits Pull Big Biz Out of Recession

Q4 earnings expected to triple, while consumers stay mired

(Newser) - Corporate America is poised to throw off its almost 3-year-long “earnings recession," despite the plain ‘ol recession still bedeviling much of America. Fourth-quarter reports will begin rolling in this week, and analysts believe they’ll continue the upward trends seen in last quarter’s better-than-expected showing. S&...

Rise of the One-Day Biz Trip
 Rise of the 
 One-Day 
 Biz Trip 
RECESSIONOMICS
Jan 11, 2010 1:25 AM CST

Rise of the One-Day Biz Trip

Even long-distance travelers avoiding hotel stays

(Newser) - As businesses cut costs, more employees are traveling—even overseas—without staying overnight. “I'm not sure everybody has the stamina to get up at 4 AM for a 6 AM flight and get home at 9," said one traveler—who totaled 100,000 miles last year but only...

1 in 5 US Men Unemployed
 1 in 5 US Men Unemployed 
Jan 8, 2010 12:17 PM CST

1 in 5 US Men Unemployed

Recession has been especially hard on traditionally male jobs

(Newser) - Male unemployment has hit an all-time high, with a whopping 1 of every 5 working-age American men jobless, according to the latest government figures. The economic downturn has been especially brutal on traditionally male-dominated fields like construction and manufacturing, the Huffington Post explains, leading some to label it a “...

Income=$0, and Some Food Stamps
 Income=$0, 
 and Some 
 Food Stamps 
TROUBLING TRENDS
Jan 3, 2010 9:27 AM CST

Income=$0, and Some Food Stamps

States seeing double-, triple-digit growth among those with zero income

(Newser) - The recession has pushed millions from their homes and jobs, but there's a rising new class of economic victim—the American with zero monthly income surviving on food stamps alone. The New York Times examined states' data, and found that some 18% of food stamp recipients were in households with...

Charities Hope for Last-Minute Donation Surge

In recession, gifts are down, but need is higher than ever

(Newser) - Charities and nonprofits are hoping for a whirlwind of last-minute donations to make up for a dismal year that saw donations fall while the need for services rose. “This is basically the most critical giving season since the Great Depression,” a representative for the Center for Nonprofit Advancement...

Stocks Close In on Big 2009 Gains

Dow up 61% since the low point in March

(Newser) - Stocks have rebounded mightily since the dark days of March, though analysts warn the dazzling recovery could make for a lackluster 2010, or even auger a double-dip recession or '30s-style yo-yoing markets. The good news first: Barring a disastrous close today, the Dow will be up around 61% since March...

Culture Wars Took 2009 Off
 Culture Wars Took 2009 Off 
ANALYSIS
Dec 24, 2009 10:07 AM CST

Culture Wars Took 2009 Off

Conservative protests were largely secular, writes EJ Dionne

(Newser) - America called a ceasefire in the culture wars this year as the economy and debate on the role of government pushed battles over religion and culture to the back burner, writes EJ Dionne. The change was most apparent on the right, where the loudest voices of protest came from the...

Florida, Nevada Shed People; Texas Gains
 Florida, Nevada Shed 
 People; Texas Gains 
census figures
Dec 23, 2009 5:15 PM CST

Florida, Nevada Shed People; Texas Gains

Magnet states in West, South lose residents; Texas gains the most

(Newser) - The recession has turned migration patterns on their heads in the last year. So-called magnet states in the West and South aren't so magnetic anymore, with Florida and Nevada starkly illustrating the trend. Earlier this decade, they both topped the growth charts, but now see more people on the way...

That Menu Is Playing With Your Mind, Wallet

Restaurants high and low use psychology to boost spending

(Newser) - In the recession, restaurants casual and white tablecloth alike are desperately updating one of their secret moneymakers: the menu. Numerous studies have concluded that customers spend more when items have sumptuous descriptions, a relative’s name is included, or, most importantly, the $ sign is banished entirely. Whether you can...

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