My Opinion : People wont have money to buy food , people will be priced out of food , Food is becoming more and more expensive . Wages are not keeping up with inflation and people will resort to eating from dollar stores or going to foodbanks.
Sobey’s, the parent company of Safeway, is closing ten of its stores in the Lower Mainland of British Columbia due to declining sales and shifting customer demand. The affected stores are City Square and Point Grey in Vancouver; Lougheed Mall and Royal Oak in Burnaby; and Sunwood Square in Coquitlam. Five other locations may reopen under Sobey’s discount brand, FreshCo, at a later date. The closures will result in 800 layoffs and the company will also cut 1,300 jobs by 2017, mainly at distribution centers. Union representatives see the closures as a tactic in advance of upcoming negotiations with Sobey’s and say as many as 1,000 workers could be impacted. Sobey’s has confirmed the closures and stated that it is looking forward to the upcoming negotiations.
The middle class, defined as those individuals or households with incomes that fall between the lower and upper class, has seen a decline in disposable income in recent years. This can be attributed to a variety of factors, including stagnant wages, rising costs of living, and increased income inequality.
One major factor contributing to the decline in disposable income for the middle class is stagnant wages. Despite a strong economy and low unemployment rates in recent years, the average worker’s wages have not kept pace with the cost of living. This means that even though people may be working, they are not seeing their incomes increase at the same rate as the cost of necessities such as housing, healthcare, and education.
Another factor contributing to the decline in disposable income for the middle class is the rising cost of living. The cost of housing, healthcare, and education has risen significantly in recent years, putting a strain on the budgets of middle-class households. This is particularly true in urban areas, where the cost of living is often higher than in rural or suburban areas.
Income inequality is also a major factor contributing to the decline in disposable income for the middle class. In recent years, the gap between the rich and the poor has widened, with the top 1% of earners seeing a significant increase in their incomes while the middle class has seen little or no increase. This means that the middle class is being left behind as the wealthy continue to pull ahead.
In addition to these factors, there are also several policies that have contributed to the decline in disposable income for the middle class. For example, tax policies that favor the wealthy, such as the 2017 Tax Cuts and Jobs Act, have shifted the tax burden onto the middle class while providing large tax breaks for the wealthy. In addition, cuts to social safety net programs such as Medicaid and food stamps have made it more difficult for low-income and middle-class households to make ends meet.
In conclusion, the decline in disposable income for the middle class can be attributed to a variety of factors, including stagnant wages, rising costs of living, increased income inequality, and policies that favor the wealthy over the middle class. It is important for policymakers to address these issues in order to ensure that the middle class is able to maintain a decent standard of living and participate in the economy.
Safeway closers ? Food Shortages on the Horizon ? Middle class has no Money to Buy Food !