This article examines two perspectives on the changes in the labor market in Buenos Aires during the last decade. The first is a comparison of the supply and demand of labor and changes in income levels during the period from 1991 to 1997. The second presents middle and working-class women's interpretations of these changes through their accounts of their work, living conditions and family relations. During the period analyzed, female participation increased, its pattern of economic behavior growing closer to that of men, albeit with lower levels of activity. Women's participation is therefore characterized by a continued trajectory in the labor market, beginning when they complete their studies and ending at a late stage in life, with retirement, reflected in the testimonies of female experiences as changes regarding their decision to work or to continue working for a longer period of time. The increase in unemployment has led to significant changes in people's lives. Changes in the demand for labor indicate that the jobs lost have been primarily in the field of unskilled labor in small firms or among the self-employed and that males have been comparatively more affected males. The microcosm of the family reflects the changes that have taken place in Argentinian society as a whole. Women have made significant progress in the labor market by working longer hours and accepting less favorable working conditions and wages. Older women's entry into the labor market has corresponded to the need to cover the loss of male jobs and/or a reduction of household income levels. Judging from the testimonies, young people's work also seems to be a response to this situation. The pressure of economic adjustment is forcing many families to adopt austerity measures. Increases in the price of public services and taxes have forced the majority of the families whose testimonies we recorded to re-allocàte spending: thinking how much and what they are going to eat is a significant change which becomes dramatic when people are forced to resort to schools to ensure that their children have lunch or to the parish or community centers to obtain food for the family.