It hasn’t been an upbeat start to 2010.
A blog post on NPR this morning pointed out that while the December jobless rate was higher than economists anticipated, it would have been EVEN HIGHER if those who’d dropped out of the market all together had been counted. And talk of a new recession for 2010 was the headline on a NewsHour analysis piece this week.
A range of issues indicate recessionary trends from reports at stations around the country:
Minnesota Public Radio reported on “Cash for Keys” plans, where lenders pay former – and busted — homeowners to surrender their keys faster. These systems have cropped up across the country, with some success.
Cash for keys has been around for years, he says, and it’s increased with the jump in foreclosures.
On the health care front, as a national bill moves through Congress, WSIU in Illinois reported on a new bill in the state that allows young people up to age 24 to stay on their parents’ health insurance, costing the state nothing but charging fees to those families that wish to keep their grown kids covered.
Many people shop at discount retailer H&M to save some money on fashionable clothes, particularly as little luxuries are less affordable. But reports this week about the chain ripping up old clothes, making them unwearable, rather than donating them to charity had the Web up in arms.
But maybe being in the dumps isn’t all bad. Creating more waste is actually a GOOD economic indicator, according to a story from WIUM in western Illinois. A waste management expert told the station:
“A trash collection report is one of the strongest economic indicators. When more waste is collected in an area, in this case western Illinois, that means more people are staying home. But at the same time, they’re buying things close to home.”