As if the effects of Covid weren’t enough, Americans are now dealing with inflation. Higher gas prices, rising interest rates and increased cost of food have many people unsure of just how they’ll get by. As prices rise, wages remain the same. This inflation has led to less disposable income for individuals and who keeps small businesses afloat? The average person does. Businesses rely on their consumers. And small business owners seem to be impacted the most.

The impact of our economy has left many small business owners struggling. In fact, according to the ADP recent studies show companies with less than 50 employees are suffering the most. While big business corporations have the money and resources it’s a lot more difficult for small businesses who don’t. This has resulted in small businesses looking for ways to cut costs, whether that be by downsizing, employee layoffs, or eliminating a job position altogether. In the past year alone consumer inflation has grown 65% faster than wage increases.

Yet the claims being told to us about Americas thriving economy leave only confusion. Many aren’t seeing the wage growth. The standard of living for people has been lowered. How is it possible that unemployment rates are at an all-time low when employers are claiming the lack of applicants? So, just how can we be certain things are on the rise, a rise in a good direction? We can’t, unfortunately. Continue putting one foot in front of the other and remember that this too shall pass.