GDP Slows Descent, Falls Just 1%

But most remain upbeat about their future: Pew survey

(NEWSER) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :

• Half say they have taken a job they didn't want.
• More than a third have gone back to school because of the job market.
• Nearly a quarter have taken unpaid work to gain experience.
• About a quarter have moved back in with the folks.
• More than 1 in 5 have postponed having a baby, and about the same number have put off getting married.

It neared its post-recession peak this month

(NEWSER) - Are American shoppers at last stepping back from the ledge? The Conference Board's Consumer Confidence Index shot up 10 points in December to 64.5, the AP reports. That's its highest reading since April and closing in on its post-recession peak of 72, which was achieved in February. Consumers were somewhat more upbeat in their view of the economy, with that metric bumping from 38.3 to 46.7, and significantly more upbeat about their own prospects for the next six months, which rose from 66.4 to 76.4. More»

It was a surprise drop, notes Bloomberg

(NEWSER) - Unexpected visit from the in-laws: bad news. Unexpected drop in jobless claims: very good news. Though Bloomberg reports that economists anticipated that the number of Americans filing first-time jobless claims would hold steady around 390,000, it instead dropped by 19,000 last week, to 366,000. The last time it was that low? May 2008, a long-ago era when Jennifer Aniston was dating John Mayer and Newser thought "twittering" was an appropriate verb. Reuters notes that the number is approaching the 350,000 mark, one that analysts consider a sign of "more sustained improvement in the job market." Stocks rose on the news, notes Marketwatch . More»

They're getting even more popular, with families citing savings

(NEWSER) - The dismal state of the economy has prompted more Americans to choose cremation over traditional burial services to save money, reports the New York Times . Cremations have been steadily rising in popularity since 1985 (41% now vs. 15% then) but the spike has been more pronounced in the last decade. A study last year found that one-third picked cremation mainly to save money, up from 19% in 1990. More»

His policies have failed, so he's blaming the rich: Charles Krauthammer

(NEWSER) - President Obama's big speech in Kansas this week makes clear that he's going to resort to class warfare to try to win re-election, writes Charles Krauthammer in the Washington Post . With the economy in shambles, Obama is sticking to his simplistic stick-it-to-the-rich theme ("the breathtaking greed of a few," etc.), happily ignoring the fact that his own policies created much of the problem, argues Krauthammer. More»