A recent study by the Federal Reserve showed that in twelve different regions, the rising gas prices actually benefited the economy. While nobody enjoys paying four dollars per every gallon of gas, these high-energy prices may actually be helping the economy. Companies seemed to be way busier which then increased their demand for workers. Companies hired more employees after this rise in gas prices because consumers were buying more of other goods. The price for materials for these companies is much more expensive but economists believe these higher priced consumer prices will not last long but rather it will be temporary. The higher energy prices also resulted in a high demand of auto sales and tourism, while some shoppers shifted to paying for low-priced goods and inferior goods rather than high priced luxury goods. Since so many factories increased their production, so many more workers were hired which thankfully lowered the unemployment rate. So maybe the highly expensive energy and gas prices are not only bad, even though they do result in workers getting less of a pay increase. But still, at least there is an optimistic side to this crisis and that maybe it will help American citizens and consumers since it increases employment and makes some goods less expensive.
-Taryn Dandurand
High Gas Prices Leads To Semi-Good Results
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