Submitted by Meg Wilson on August 11, 2008 - 06:23.
There's a story in the New York Post about how many New Yorkers have had to cut down on gym memberships and personal trainers because they are feeling the pinch with smaller bonuses and paychecks.
With the economy in a slump, the unemployment rate jumping from 4.8 percent in May 2008 to 5.3 in June (thanks to major layoffs at places like Morgan Stanley and Merrill Lynch, New York state had the second-highest number of mass layoff claims nationwide in June), and the cost of everything skyrocketing, New Yorkers are cutting back on lifestyle perks. Says a 38-year-old Upper East Sider who just lost her job at a hedge fund: “I used to have three memberships—one at a gym, one at a spinning studio and one at a yoga studio. I was spending upwards of $600 a month. Now I’ve taken up running, because it’s free.” Still, she’s worried about the future of her waistline, since “many of my friends have lost their jobs too. We used to eat out every night, but now we order in barbecue. Plus, I’m not sure what I’m going to do about working out once the weather changes.”
See Is the Economy Making Us Fat?
Photo by eMuse Tess Heder