The economy grows, office holiday parties shrink

GOOD DAY FOR: Green shoots, as the U.S. economy expanded 3.5 percent in the third quarter, the first uptick in GDP in more than a year, on federal stimulus dollars starting to kick in. The rate of expansion beat expectations, although optimism about an economic recovery is tempered by anemic unemployment numbers. (Bloomberg)

BAD DAY FOR: Holiday spirits, as only 62 percent of offices are planning to throw holiday parties this year, down from 77 percent last year and 90 percent in 2007, according to Challenger, Gray & Christmas. “For companies that have recently announced layoffs or other significant cost-cutting measures, such as wage freezes, it would be difficult to justify, let alone get in the mood for a holiday party,” said CEO John Challenger. (Reuters)

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up