Tackling Unemployment and Inflation: A Firsthand Account

Abstract

Unemployment and Inflation Rates An article by Simcha Fisher tells a story of a woman who buys steak using food stamps. Some states issue food stamps to people who earn low incomes, which they can exchange for food. Inflation occurs when there is too much circulation of money in the economy, where prices of all the goods rise, and one can only buy less by paying more. In terms of the housing system, the family is unable to find someone to rent them a small house because they have a large family. Inflation is evident when the lady purchases a second-hand linen dress for four dollars. Additionally, the lady narrates that five years ago, the economy was better when they could survive with only forty dollars per day (Fisher, 2015). She narrates that no matter how much they squeeze their budget, they always have 40 dollars less to pay for their basic needs. The family also relies on WIC for cheese and Kix since their prices have increased. The family was also given $800 per month by the welfare office. The author narrates on how she thought that $800 was allot of money, but they still relied on food stamps. Inflation is well explained since the author thought that she could a lot with the $800, but still it was not enough for their basic needs. In this article, unemployment is well articulated where husband relies on overtime gigs. Further, the overtime hours at his workplace were reduced but the work to be submitted remained the same. The author says that there were no other jobs the husband could find to cover up for the lost income he earned by working overtime (Fisher, 2015). The author also narrates that many people survive on more than...