From this recessionary turmoil comes a new crop of entrepreneurs who are taking matters into their own hands. Rather than turn to self pity, more individuals are starting up their own companies.

According to the Bureau of Labor Statistics, a total of 2,157 American employers conducted mass layoffs during the month of July, and the number of initial unemployment claims increased by 54,292 over the course of a year.

Despite these figures, the New York Times has an encouraging article that focuses on some Americans who have turned their time away from work into the chance to become entrepreneurs.

For example, one woman learned her contract was not to be renewed at her job, and after taking some time to regroup she and her brother started up Hambone Designs - a bicycle bag vendor.

The project is online only at the moment, but Lisa Marie Grillos tells the news provider "we have been talking about mass producing, but we’re not there yet" for this effort is still in the early stages.

She has enjoyed success as an entrepreneur thus far, having already sold 70 bags for a profit each, the news provider reveals.