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Is The Economy Good? How Current Economic Conditions Affect You.
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Is The Economy Good? How Current Economic Conditions Affect You.
It’s an election year. The news media states we have a great economy with low unemployment and strong consumer growth. Some polls tell a different story.
One of the biggest concerns among consumers is inflation. Costs have increased significantly for everyone including businesses. Raw materials costs are up 25% since 2020 which makes production of goods much higher. Inflation is still growing faster than the Fed would like. Labor costs are up though wages aren’t keeping pace with cost of living. 36% of American adults have more credit card debt than emergency savings. 78% live paycheck to paycheck. What could all this mean to you, the business owner?
We will break it down for you.
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