SMALL BUSINESS SNAPSHOT
Washington, February 17, 2023
It may be a new year, but President Biden and Congressional Democrats’ out-of-control spending spree continues to weigh heavily on the economy and the pocketbooks of the American people. Inflation remains persistently high with no clear end in sight despite the President’s best attempt to paint a rosy picture of the economy in his State of the Union address. Workers and Main Street know first-hand how high prices have and continue to cut into their paychecks. Grocery prices are up over 11 percent, as best demonstrated by the staggering price of eggs, turning a household staple into a commodity many American families are no longer willing to pay for. Americans are paying 6.4 percent more for goods and services than they did a year ago. This is not sustainable and cannot be normalized by the administration.
The below February 2023 Small Business Snapshot features numbers and updates to provide more insight into the current small business economy.
MAIN STREET MEASUREMENTS:
CONSUMER PRICE INDEX (INFLATION)
LABOR FORCE PARTICIPATION RATE
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS