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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: recession

recession stories: 853 news summaries

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Recession Crushes
White-Collar Michigan

Layoffs, property price plunge leaves middle-aged workers in limbo

Sep 17, 09 1:26 AM CDT
(Newser) - Tens of thousands of middle-aged white-collar workers have been left jobless and stranded in Michigan by the recession, the Wall Street Journal reports. Auto industry veterans laid off by the Big Three are finding themselves competing against against younger people for a smattering of job openings. With property prices down... More »

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Chrysler • General Motors • Detroit • Michigan • recession • Ford • unemployment • auto industry • Big Three • white collar

Euro Farmers Protest Falling Prices With Huge Milk Dump

800,000 gallons in Belgian field after recession takes big toll

Sep 16, 09 6:41 PM CDT
(Newser) - European farmers today dumped 800,000 gallons of milk in a Belgian field, AFP reports, in a protest against a dramatic dive in prices. The group behind the scene says three French farmers committed suicide in the past week over prices, which have fallen by as much as half as... More »

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Belgium • milk • Europe • waste • recession • European Commission • farmers • commodity prices • financial crisis • milk prices

iPhone Blew Your Budget?
'Recession Case' Is for You

Cardboard protection can be yours for just $1

Sep 16, 09 10:10 AM CDT
(Newser) - Hard times no longer mean iPhone users who blew all their cash buying one can't afford a protective case for their new favorite toy, Mashable reports. Case-Mate has introduced the iPhone 3G Recession case, priced at just $1. The sturdy cardboard case, which assembles with locking tabs, will cushion your... More »

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cell phones • iPhone • Apple • recession • iPhone 3G

 Wages Are Up—for 
 Workers With Jobs 

Avg. weekly pay hit $618 last month, up from $612

Sep 16, 09 6:41 AM CDT
(Newser) - For those with the good fortune to have a job, wage growth has actually increased in recent months, government surveys show. From the fall of Lehman Brothers last September to this June, average weekly pay stayed at $612. But since June, the workweek has gotten longer and hourly pay growth... More »

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wages • recession • unemployment • pay increase

 UK Unemployment
Soars to 14-Year High

Jobless rate expected to keep rising despite signs of economic recovery

Sep 16, 09 5:18 AM CDT
(Newser) - The unemployment rate in Britain has climbed to 7.9% despite signs the economy is slowly beginning to pick up, the Wall Street Journal reports. The rate is now the highest since 1995, and analysts expect it to keep rising until well into next year. Unemployment remains especially high among... More »

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recession • unemployment • Britain • jobless

(AP) - Fed chief Ben Bernanke said today that the worst recession since the 1930s is "very likely over at this point." However, "it's still going to feel like a weak economy for some time," he warned, and unemployment will almost certainly rise. He spoke today to the... More »

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Ben Bernanke • Federal Reserve • recession • Brookings Institution • economy

Struggling Porn Industry
No Longer Recession-Proof

Porn has become 'like potato chips,' frustrated actress says

Sep 12, 09 3:29 PM CDT
(Newser) - Previous recessions have been kind to pornographers, but this one has been a knee to the industry’s groin, the Economist reports. Revenues have plummeted by up to 50%—from $6 billion in 2007, by one estimate—performers are being forced to lower prices, and production has been nearly cut... More »

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Internet • California • pornography • recession • adult films • San Fernando Valley

 Geithner Warns of 
 Long, Hard Road Ahead 

Administration a long way from saying 'mission accomplished' on financial crisis 

Sep 11, 09 5:43 AM CDT
(Newser) - The economy is no longer on the brink of the abyss but there's a long way to go before recovery takes hold, Tim Geithner warned yesterday. The Treasury secretary told a congressional committee that while the financial system is showing signs of better health, regulation of the financial system needs... More »

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recession • US economy • House Committee on Oversight and Government Reform • Treasury secretary • financial crisis • Wall Street bailout • TARP

 In Recession, NFL 
 Blackout Rule Raises Ire 

To fill seats, league holds local TV broadcasts hostage

Sep 10, 09 3:52 PM CDT
(Newser) - High ticket prices and the recession are taking their toll on attendance at pro football games. But if you can’t afford the stadium, at least you can watch at home, right? Wrong. The NFL is sticking to its “blackout” policy—no local broadcast if the stadium doesn’t... More »

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television • NFL • football • recession • stadium • broadcasting • local TV stations • blackout • attendance • National Football League • pro football

OPINION

Forget Health Reform—We Can't Afford It

The economy should
be Obama's top priority: Henninger

Sep 10, 09 8:50 AM CDT
(Newser) - Barack Obama makes health care sound like the most pressing issue in American life, but with unemployment at 10% and the country still officially in recession, Daniel Henninger wonders why he's "draining a dwindling reservoir of presidential capital." The cost of health care may be a problem for... More »

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health care • Barack Obama • health care costs • recession • unemployment • US economy • health care reform • economy • Obama administration • Wall Street bailout • TARP

China May Invest in
Bargain US Real Estate 

Sovereign-wealth fund to ramp up spending after quiet 2008

Sep 8, 09 4:11 PM CDT
(Newser) - China’s sovereign-wealth fund has its eyes on US real estate, the Wall Street Journal reports. China Investment Corp. laid low throughout 2008 as the global economy teetered but is now opening its coffers. And depressed US commercial property values—off 35% from their peak—coupled with cheap government... More »

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China • real estate • United States • recession • private equity firms • sovereign wealth funds • China Investment Corp • property values

OPINION

 
 Florida's a Dying 
 Ponzi Scheme, 
 But I Love It  

Tax base erodes as tourists, snowbirds dwindle

Sep 6, 09 3:47 PM CDT
(Newser) - Florida resident Diane Roberts isn’t surprised—or even upset—that her state is collapsing. The Sunshine State's population is dwindling for the first time since World War II as tourists and snowbirds pull out, eroding the tax base that funded just about everything. "Our whole economy is more... More »

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climate change • Florida • recession • population • collapse • Ponzi scheme

'European Model' Could Die: French PM

'Sluggish growth' may destroy safety net,
job security

Sep 5, 09 7:40 PM CDT
(AP) - The prime minister of France, the country perhaps most associated with the cherished "European model" of job security and social safety nets, warned today that it may prove unsustainable because the region's economies are too stagnant. "With this sluggish growth, we cannot preserve the European social model or... More »

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Europe • France • socialism • recession • Francois Fillon • job security • economy

Pledge Boom Helps Public Stations Ride Out Recession

Loyal public help keep stations going as sponsorships, government funding vanish

Sep 5, 09 10:07 AM CDT
(Newser) - Loyal viewers and listeners have stepped up to help their local public broadcasters make it through the recession, the Washington Post reports. Public stations say their appeals to the public are meeting a warm response despite the recession, with donations staying steady and, at some stations, even rising to record... More »

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television • recession • radio stations • broadcasting • local TV stations • fundraising • public television • pledge drive

In Recovery, Business Will Profit at Workers' Expense

Short-term outlook 'great for business, terrible for households'

Sep 5, 09 9:18 AM CDT
(Newser) - The economy is slowly improving, but companies will see the benefits long before the unemployed and underemployed will, Bloomberg reports. A Department of Labor report released yesterday found that the average workweek is at a near-record low of 33.1 hours. The lack of uptick in part-time hours is an... More »

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economic growth • recession • unemployment • US economy • Department of Labor • US employment • underemployment

 Teen Unemployment 
 Hits Record 25% 

Expert sees teenagers jobless for a 'long, long, long, long time'

Sep 5, 09 6:45 AM CDT
(Newser) - The teen jobless picture is the bleakest since the government started tracking the statistic 60 years ago, the New York Times reports. The rate hit 25.5% last month, nearly triple the rate among other workers. Analysts say teens are getting squeezed out of the workplace by college graduates, unable... More »

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employment • recession • unemployment • youth • teenager

 Staycations Rule 
 Labor Day 
 Weekend 

Recession prompts many to cut out leisure travel

Sep 4, 09 3:11 PM CDT
(Newser) - Many Americans feeling the bite of the recession will forgo a Labor Day getaway this weekend, instead opting for stay-at-home activities, Bloomberg reports. AAA predicts that weekend travel will fall by 13% from last year. “We need to be a little bit more reserved with the times the way... More »

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travel • recession • AAA • Labor Day • leisure • staycation • recession depression

OPINION

Krugman: How Economists Blew It

Downturn blindsided big brains who thought markets were perfect

Sep 4, 09 11:42 AM CDT
(Newser) - Believe it or not, economists were, until about a year ago, congratulating themselves on a job well done. Now the dismal science is in shock, and Paul Krugman thinks he knows why. Economists, he writes in the New York Times Magazine, “mistook beauty, clad in impressive-looking mathematics, for... More »

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economics • recession • Paul Krugman • financial crisis • John Maynard Keynes • economists

 Recession 
 Woes Penalize 
 NFL Franchises 

Overall revenues up, but some franchises lose value for the first time in a decade

Sep 3, 09 1:55 PM CDT
(Newser) - Tight credit and the recession-driven scarcity of buyers and investors slashed the value of eight NFL teams this year, Forbes reports. It’s the first time in a decade that even one team has seen a decline. Though the average team value held steady at $1 billion, Oakland led... More »

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NFL • Dallas Cowboys • investors • Oakland Raiders • football • franchise • recession • credit market • team • value

 Women Gain as 
 Recession Batters 
 Male-Dominated Fields 

Men have lost 3 times as many jobs as women since Dec. 2007

Sep 3, 09 12:32 PM CDT
(Newser) - The US job market is closer than ever to gender equality because the recession has most heavily affected male-dominated industries, USA Today reports. Women held 49.83% of the nation’s jobs as of June. Since the recession began in December 2007, 74% of the 6.4 million jobs lost... More »

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women • employment • income • recession • gender in business • job • recession depression

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