recession

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Avon, Mary Kay Defy Recession
 Avon, Mary Kay Defy Recession 
Jun 13, 2009 8:50 AM CDT

Avon, Mary Kay Defy Recession

(Newser) - More and more recession-plagued Americans are turning to direct-sales companies like Avon for extra income, the AP reports. Mary Kay saw its sales force grow by 22% this year, and Tupperware also reports higher profits and more salespeople. "'I need money.' That's what I've been hearing since about...

More Cuts Await Slumping Airlines

Delta, AA among carriers who can't cover costs

(Newser) - As rising oil prices and sluggish demand continued to hammer the airline industry, Delta, American, and several other carriers forecast further cuts to service yesterday, reports the Wall Street Journal. Despite massive reductions in service, CEOs said at an industry meeting that they still aren't covering costs. "Earnings are...

Obama's Approval at 62%; Government Less Popular

(Newser) - Though opinions of the government vary, most Americans continue to have a favorable view of President Obama, Fox News reports. In a new poll, 62% of respondents approve of the job Obama is doing; 31% disapprove. 64% like the president as a person. But on the administration’s takeover of...

Bond Sales Drive Dow Up 32
 Bond Sales Drive Dow Up 32 
MARKETS
Jun 11, 2009 3:16 PM CDT

Bond Sales Drive Dow Up 32

(Newser) - Markets were up today on a successful sale of 30-year Treasury notes and other indicators of economic recovery, the Wall Street Journal reports. Bank of America saw a 9% upswing after its CEO testified on Capitol Hill. The Dow gained 31.90 to 8,770.92. The S&P rose...

Economists See High Unemployment Through 2010

(Newser) - Economists think the US unemployment rate will stay above 9% through 2010, the Wall Street Journal survey finds. Accordingly, those in the know believe the Federal Reserve will hold interest rates down at least through spring. “For real people, there is no recovery until the unemployment rate stabilizes,”...

Firms Feed Workers to Boost Morale
Firms Feed
Workers to
Boost Morale
Jun 11, 2009 1:45 PM CDT

Firms Feed Workers to Boost Morale

It's not a raise, but perk goes long way in tough times, managers say

(Newser) - The way to employee satisfaction is apparently through their stomachs. Businesses slicing jobs and benefits in tough times are finding that free food is a cheap way to boost worker morale, the Boston Globe reports. The majority of financial officers recently surveyed—68%—is taking steps to boost employee spirits....

Net Worth of US Households Sinks Another $1.33T

(Newser) - The net worth of US households—assets minus debt—fell $1.33 trillion in the first quarter to $51.71 trillion, the Wall Street Journal reports. The 2.6% drop is smaller than the 8.6% of 2008’s fourth, a Fed report says. The first-quarter data don’t include...

Record 20M US Kids Get Free Lunch

Many are first-timers to state program

(Newser) - It’s good there is such a thing as a free lunch, since more US students than ever need one. Nearly 20 million kids got a free or reduced-price school lunch in February, overwhelming districts that also face rising food costs. Nationwide enrollment in the government-subsidized program was up 6....

Zuma's First Big Test: South Africa's 23% Jobless

At 23.5%, unemployment keeps nation locked in poverty

(Newser) - South Africa is facing its first post-apartheid recession, and unemployment has hit 23.5%—a punishing figure that has ended the honeymoon of its new president, Jacob Zuma. Many who voted for Zuma have never had a job at all and are desperate for work, Celia Dugger reports for the...

Shift to Right in Europe Bodes Ill for US Dems

(Newser) - The global recession has sparked a conservative, anti-immigrant impulse in Europe—see the right’s victory in European Parliament elections—and US liberals should take notice, Michael Lind writes for Salon. Though “it would be a mistake to read too much into the elections” as the “European Parliament...

Report Seeks More Bank Stress Tests

First round may have underestimated unemployment

(Newser) - The US should run a second round of bank stress tests if it turns out the government was overly optimistic about the economy in the first round, says a report to be presented to Congress today. The Congressional Oversight Panel, which monitors the bailout, applauded the tests thus far, but...

Airlines Need Steeper Prices, a Shakeout, to See Profits

Industry knows crisis management, but future hazy

(Newser) - The airline industry, an old hand at crisis aversion, is holding its own in the recession by cutting costs, along with fares, the Wall Street Journal reports. But higher prices to consumers—and a major shakeout—would be needed to get even close to profitability. The industry expects to lose...

Brown's Woes Offers Obama Reality Check
Brown's Woes Offers Obama Reality Check
OPINION
Jun 8, 2009 8:50 AM CDT

Brown's Woes Offers Obama Reality Check

Voters don't reward economic competence after crisis: Krugman

(Newser) - The Bush administration has taken much of the blame for the American recession, but a "huge housing bubble and a financial crisis" were always on the cards, as Paul Krugman writes for the New York Times. Writing from London, where voters gave Gordon Brown a pummeling in Thursday's elections,...

DJ Schools Rockin' in Recession
 DJ Schools 
 Rockin' in 
 Recession 
glossies
Jun 7, 2009 6:30 PM CDT

DJ Schools Rockin' in Recession

(Newser) - The jobless and work-weary alike are flooding deejay schools across the US, embarking on dreams as the economy comes apart, Time reports. Some enroll at schools like New York's Dubspot—not exactly cheap at $1,695—to deejay professionally. Others are yearning for more creativity, less rat race. "They're...

Recession Cools Worldwide Migration
 Recession Cools 
 Worldwide Migration 
ANALYSIS
Jun 6, 2009 2:51 PM CDT

Recession Cools Worldwide Migration

(Newser) - Facing a tough job market, immigrants are returning home around the world, reversing historic migration patterns and giving up on income that once fed their families, the Wall Street Journal reports. With construction workers going back to Mexico and domestic servants to the Philippines, wealthy nations are also bound to...

Jobless Rate Hits 9.4%, But Layoffs Ease

(Newser) - The unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the furious pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September. If laid off workers who have given up looking for new jobs or have settled for part-time...

Wal-Mart to Create 22K More US Jobs

But retailer has slowed expansion

(Newser) - Wal-Mart plans to add 22,000 jobs to its US stores this year, down from last year's 33,800 new jobs in the face of slowed expansion. The retailer has gained market share from recession-minded consumers, but hasn't been immune to the downturn, and recently slashed 700 jobs in its...

Huge United Order Sparks Jet Builder Face-Off

Bargain-hunting airline invites Boeing, Airbus to duke it out

(Newser) - Hoping to score a good deal by exploiting the recession, United Airlines has called on Boeing and Airbus to bid on an order for up to 150 new jets, the Wall Street Journal reports. The plan could bring in $10 billion for one of the manufacturers, both of whom face...

Bernanke Sees Slow Recovery, Despite Positive Signs

Still hopes economy will grow by year's end

(Newser) - The US has a long way to go before the economy returns to full health, despite hopeful signs, Ben Bernanke told the House budget committee today. “Recovery will only gradually gain momentum and that economic slack will diminish slowly,” the Fed chairman said. With businesses cautious, “the...

Bank Pays Workers to Take 5-Year Vacation

Employees should go pursue 'personal projects,' bosses say

(Newser) - Spain's second-largest bank is taking the creative route to cost-cutting—offering its workers 5 years' paid vacation. Staff at BBVA who want to take time off to focus on "personal or professional projects" can receive 30% salary plus benefits, in addition to a guaranteed job when they return. The...

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