Cost Of Living Essay

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Increase cost of living in New York
As a New Yorker, I can totally relate to how people suffer from the increase in the cost of living for the last five years. Cost of living, is the amount of money needed to maintain a certain way of life, which includes housing, food, taxes and health care amongst other things. The difficulty of maintaining a household in New York is visible in every aspect of living and although everything has double or even quadrupled in expenses; wages have either stayed the same or make little to no difference. Article, reports, books and blogs support the huge increase of the cost of living.
Today’s time is changing for New Yorkers, where being able to live on your own is becoming harder. We can hardly enjoy our family at a nice dinner table, or chat with them to see how their day went. The reason is because some of us have to work either a double shift or triple shift to be able to provide our families with a roof over their head. Furthermore, with the escalating costs of rent; minimum wage salary is not enough to get anyone by in New York City.
In order for people in New York City to cope with the high costs of rent they would go as far as to share a studio apartment between two to three people. All for the sake of not losing their apartment and possibly becoming homeless, this is why people would go as far as to rent out their living room as room to sleep in. The privacy of an individual or family has to be sacrificed; they must also be able to trust strangers living among them to cover the cost of rent. According to The New York Time “Cost of Living Going Up At Fast Pace In New York” by Patrick McGeehan the regional commissioner for the Bureau of Labor Statics Michael L. Dolfman stated that “th...

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...lthough our cost of living increased, some of our wages either did not make much of a difference or did not help at all. According to Economic Notes:
NYC lost 65,000 payroll jobs in the last three months of 2008. From December 2007 to December 2008, the city lost 53,600 jobs, or 1.4 percent, while the country lost 2.8 million jobs, or 2.0 percent. NYC sectors recording job gains included Real Estate, Professional Services, Health Services, and Accommodations and Food Service. Sectors experiencing losses included Construction, Manufacturing, Wholesale and Retail Trade, Information, and Arts and Entertainment.
New York has experience major increase in living in the last few years. An increase that has affected families, individuals and our economy, we have all suffered the major blow of our changing economy and the hardship of maintaining a household as best we can.

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