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- Americans are combating still-high prices by getting creative to procure essentials.
- Some are buying pigs for meat, and others are looking into raising chickens for cheap eggs.
- While the US is still not in a recession, the current economy is still leaving workers squeezed.
Right now, Americans are facing the fallout of the still-strange economy: Layoffs are dominating the news, prices are staying high, but a recession is still nowhere in sight.
But while the labor market is booming, and economists are less concerned about a downturn, that provides little relief for Americans who are not seeing pay keep up with inflation. With credit card debt mounting, savings shrinking from pandemic highs, and consumer spending down, the Wall Street Journal reports that some people are getting creative in making their dollars stretch futher.
Benjamin DeLong, a customer-account manager in Minnesota, told the Journal that his savings had fallen from $3,700 from government pandemic-era stimulus to 3 cents. DeLong, alongside other families, actually purchased some pigs last year; their cut of the ultimate meat came to about 150 pounds, per the Journal, which DeLong said had saved them around $500.
With egg prices soaring, and nearly doubling in some states, consumers are also taking matters into their own hands. In Southern California, farmers told Fox5 San Diego that more and more people are coming to them asking to buy chickens, many of them first-time chicken owners hoping to get their own eggs and beat grocery store prices. In Houston, people are buying and even renting chickens for their fresh eggs, according to the Houston Chronicle.
Meanwhile, a post-vaccine tattoo boom that left piercers and tattoo artists awash in clients and bookings might be slowing as well. Mikhail Andersson, who owns New York-based First Class Tattoo, told both the Journal and the Washington Post that he's seen an uptick in cancellations, including customers who have to cut off sessions meant to last days because they needed either a shorter appointment or had to save more before moving forward.
The possibility of a downturn, coupled with still-high inflation, is also prompting some Americans to shake up their hairstyles. The latest trend is recession brunette, according to hairstylists. Warmer toned hairstyles, which are cheaper and require less maintenance, are making a comeback.
That's because, disillusioned with the high costs — and time commitment — of maintaining blonde hair, some Americans are deciding that during a downturn, brunettes have more fun. The recession brunettes Insider spoke to said they'd be keeping their hair brown until economic conditions improved.
"Economic changes do lead to physical changes in people's health and self-presentation in all sorts of ways," Diane Negra, a professor of film studies and screen culture at University College Dublin, and co-author of "Gendering the Recession: Media and Culture in an Age of Austerity," told Insider.
However, not all workers seem entirely put-off by economic conditions. The University of Michigan's Index of Consumer Sentimentrose by 15% from December 2022 to January 2023, although it's still 3% below last year's reading. Inflation expectations fell again, although consumers don't seem to be quite sold on avoiding a recession — two-thirds still think a downturn is coming.
Are you buying chickens or pigs or doing something else creative to bring down your bills? We want to hear from you. Contact this reporter at jkaplan@insider.com.