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During the sass, many low-income families began relocating to suburban neighborhoods, in hopes to remain gainfully employed in the area. As a result of the housing boom, several poor people obtained positions with construction companies in the suburbs and moved from inner cities, to the suburbs. Others were moving to suburban areas to obtain positions (even low-wage) in customer service, retail, and restaurant businesses (Lobby, 2013, Para. 6).
Once the Great Recession occurred, the suburban poverty lemma increased, causing construction companies and other businesses to close. Many in poverty were left without Jobs and several middle-class families were forced into poverty as well. Some critics believe the suburbs are not suited for the increasing rise of suburban residents in poverty. Most of the $82 billion funding from the government, used to aid those in poverty, is given to cities (Lobby, 2013, Para. 7). Therefore, there is a growing concern as to what may happen next.
The increase in suburban poverty can raise many concerns and is of great significance to our economy, if we wish to continue growing. Having poor populations on the rise, at such shocking rates, will only be detrimental to our economy and society as a whole. Although many suburban residents gave up their city homes and relocated for employment, they should have planned the future out a little better and created a more realistic budget for themselves, in case certain circumstances, or “what ifs”, result in Job losses or a significant income reductions.
By creating a better Lana and personal finance budget, stability and budgeting efficiently for individuals may be easier, ultimately reducing suburban poverty. Since suburban poverty populations are increasing at the largest and fastest rate in America, it is important to fix the underlying issues. Things, such as, Job creation and government assistance is crucial if we want to turn the economy back around. However, suburb dwellings and businesses are spread farther apart from one another, as opposed to city infrastructure.
This makes it more difficult for those who do not have access to remonstration, to get the assistance they need. Additionally, if the government distributed the funding for households in poverty more evenly, the suburbs would not have such a high rate of residents in poverty. Instead, they would be afforded the assistance city residents receive. Perhaps then, the rate for suburban poverty would decrease. Macroeconomics-Poverty By mimics Lobby, T. (2013, May 20). Suburban Poverty Soars. Retrieved from http:// economy. Money. CNN. Com/2013/05/20/suburban- poverty-soars/