Recession Briefing 8.3

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Aug. 3 2009 10:18 AM

Recession Briefing 8.3

By every measure, except foreclosures, the housing market has stabilized and many areas are recovering , according to a spate of data released in the past two weeks. ( Los Angeles Times )

Families are expected to spend 8 percent less on back-to-school purchases , including everything from new shoes to dorm room gear, the National Retail Federation forecasts. Also, Recessionwire : 10 stores offering deals. ( Associated Press )

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Strapped local and state governments are still spending on at least one activity: seeking stimulus money. ( Wall Street Journal )

The number of Americans not paying their property taxes amid the recession and the brutal housing collapse has increased sharply. ( USA Today )

The global economy is still in a recession that won’t end until the end of the year , said New York University economist Nouriel Roubini. Also, Recessionwire : Roubini’s prediction parsed. ( Bloomberg )

Long after President Barack Obama’s first term ends in 2013, millions of U.S. families will still be paying the price for the recession. More and more people are facing long-lasting unemployment. ( Reuters )

The recession isn’t sparing the adult entertainment industry. Strip clubs and shops that sell adult merchandise Southwest Florida have reported as much as a 50 percent drop in business. ( South Florida News-Press )

Ten states covering a long swath of middle America, from the Great Plains south to Texas, have thus far made up a "safe zone," relatively sheltered from the recession. But the safe zone is shrinking. ( Associated Press )

Employment compensation for U.S. workers has grown over the past 12 months by the lowest amount on record. ( Associated Press )

The high unemployment rate has provided an unexpected boon for the nation’s public schools: legions of career-switchers eager to become teachers. ( Washington Post )

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