Today many families find it hard to make ends meet; current economic problems are causing financial stress for families at any income level. Due to the economic recession, the economy has been faced with the continuous rising of the gasoline prices, the rate of unemployment on the rise, and the real estate market declining. In the following paragraphs I will explain in detail the many examples of the economic recession.
One example of the economic recession is gasoline prices because crude oil prices are nonetheless pushing current and expected gasoline prices to record levels. Consumers are responding to the current energy dilemma in different ways, some consumers are cutting down on driving and beginning to carpal others are going out are buying fuel-efficient vehicles. As much as Americans fret over the continuous rise of gasoline prices, one thing worries them more: the possibility of having to wait in long lines to buy rationed gas. The rise in gasoline and other energy sources has siphoned off cash that might otherwise have been spent on other goods and services, in cause dragging down the economy.
Another example is the rate of unemployment going up. The large rise in unemployment increases the probability of recession in the next couple of quarters. One of the reasons for the increase in unemployment is because so many factories are closing and moving overseas which is putting many workers out of jobs. The number of unemployed workers increased to eight-hundred and sixty one thousand which drove the biggest leap in jobless rate in twenty-two years. With so many workers out of jobs, so many families loose money therefore only able to spend money and the essentials, and therefore causing many companies and decrease in business.
The third example of the economic recession is the decreasing in the real estate market. The real estate market is decreasing because to many families are losing jobs and the rising price gasoline has made it harder for...