How Economics Changes Can Affect Families Lives

Topics: Unemployment, Recession, Financial crisis Pages: 4 (1324 words) Published: April 21, 2011
How Economic Changes Can Affect Families Life
Williams Quiroga
COMM/215 Essentials of College Writing
April 18, 2011
April Adams

People around the country are living in a very hard economic crisis that they have experienced since 2008. This difficult situation has created circumstances that cause people to lose their jobs and companies taking the options of laying off employees, creating a big impact in many families around the country. This situation has not improved at all in the last three years, which makes it very hard for anyone to find a job. The consequences for all these changes are affecting families’ lives in different ways emotionally, socially, and financially. According to the United States Department of Labor, the unemployment rate in March was 8.8%, which is still very high, and gas and food prices continue to increase creating a worse situation for all of the people which are unemployed today (National Conferences of State Legislature, 2011). Many unemployed people have decided to go back to school and receive better education, getting a degree can give them an opportunity to find a better job with superior income. However, in result of the economic crisis people have found ways of becoming more self-efficient, educated, and family oriented.

Today companies have been making the decision to lay off many of their employees because of their profit decreases, consequences of the considerable changes during the economic crisis today. It is very difficult for them to keep paying enormous salaries without good revenue. This decision has been affecting about 13.5 million people in the country according to the Bureau of Labor of Statistic of United States. The emotional stress that people are living in right now is extreme because they have no idea about what will be the future for them and their families. Many of the people who have lost their jobs suffer from stress, sleeplessness, depression, and suicide. This may come with all the...
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