The XX Factor

Recession Briefing 6.16

The Obama administration has turned back pleas for emergency aid from one of the biggest remaining threats to the economy - the state of California. ( Washington Post )

Credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed. ( New York Times )

As the recession lingers on, more travelers are redeeming their frequent flyer miles . ( USA Today ) But credit card companies have said they may be reducing rewards. ( Recessionwire )

Many companies are turning to a novel but unheralded program known as work-sharing , where employers reduce their workers’ weekly hours, often by 20 or 40 percent, and then states make up some of the lost wages. ( New York Times )

Since the recession started blocking many traditional career paths, record numbers of 20-somethings, and even many established professionals, have ventured out on a new track: public service. ( Houston Chronicle )

Like many Americans who have been forced to redefine success because of the recession, laid off auto worker Troy Long is trying to shrug off his misfortune and become a professional wrestler . ( Washington Post )

The not-so-great financial lessons we learned from board game s as kids. ( The Big Money )

Still lucky enough to have a job? You’re likely doing the work of two or three people, working longer hours and not getting any extra pay. ( CNN/Money )

Everyone knows how the recession has impacted job seekers - there are fewer jobs and lots more competition - but here’s what it looks like from an employer’s side . ( U.S. News & World Report )

High style at low prices may be possible for smart shoppers - many of whom are finding the best deals at their neighbors’ houses. ( CBS News )