The XX Factor

Recession Briefing 6.24

The recession-driven shift to eating at home more often is giving new life to grocery stores’ most basic offerings. ( Wall Street Journal )

Nationally, 27 percent of about 1.6 million graduating college seniors plan to work for nonprofit groups or governments , an increase from 23 percent from 2008. ( Bloomberg )

A growing number of American homeowners are falling into financial limbo: They’re badly behind on payments, but their banks have not yet foreclosed. ( Washington Post )

While defaulted consumer debt is much tougher to recover in a recession, some collection firms have managed to squeeze more revenue from bad debt this year . ( Wall Street Journal )

President Obama said yesterday  his administration needs to push money out faster to initiate a recovery and conceded that unemployment would rise above 10 percent. ( Associated Press )

Between May 1999 and May 2009, employment in the private sector sector only rose by 1.1% , by far the lowest 10-year increase in the post-depression period. ( BusinessWeek )

Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers. The median price of homes sold in May was just $173,000, a 16.8% year-over-year drop. ( CNN/Money )

Another recession term enters the lexicon: Poorgeoisie: Those who conceal their affluence with a (carefully crafted) down-at-heel look. See more new terms in the Recession Lexicon . ( New York Times /Schott’s Vocab )

S ome tips for coping with the fallout from “recession depression.” ( Daily Mail )

While the government’s standard employment data shows plenty of pain, many employers are begging for qualified applicants for certain occupations . Most of the jobs involve skills that take years to attain. ( New York Times )