TALLAHASSEE, Fla. (WTXL) — With the cost of gas, groceries, and other goods continuing to rise across the country, money is getting a little harder to manage.
However, Ifeakandu Okoye, an economics professor with Florida A&M University said although families are feeling the impacts of inflation in the Big Bend, that pain in the pocketbook might not last too much longer.
Okoye said bi-partisan solutions by lawmakers in D.C. could ease inflation, however, during a midterm election year. Okoye adds that might be a little harder to achieve.
"One side may say, alright let's hold onto this let's let this continue," said Okoye.
Okoye said after those midterms, we could see Congress take action that helps.
Okoye adds that although things look grim now, that doesn't mean the economy is in bad shape, and the unemployment rate is a glimpse into its health.
"The economy is doing well, the unemployment rate is declining, I mean the lowest that we've seen since 2020," said Okoye.
According to the U.S. Bureau of Labor Statistics,
Leon County's unemployment rate sat at 2.4 percent in April, about 1.2 percent lower than the national average.
While North Floridians continue to work and deal with rising prices, The Salvation Army in Tallahassee is continuing to do its part.
A Saturday morning fishing tournament raised over $50,000 for the Salvation Army's effort to help those needing a little extra help through rental assistance, electric bills, and other services.
Salvation Army Captain Stephan Wildish says they've seen about a 7 or 8 percent increase in people seeking help this year.
"People who were fine during the crisis of covid, who were not affected financially, are being affected financially now," said Captain Wildish.
Funds from Saturday's tournament will also be used to help send kids to summer camp this year in Gainesville.