“Regardless of the current inflation levels this month, the struggles for small businesses in hiring persist. The rising cost of living, coupled with the mismatch between wage growth and inflation and the ongoing competition for job seekers, consistently places these businesses at a disadvantage when competing for top talent.” -- RedBalloon CEO Andrew Crapuchettes
(Moscow, ID) – The Bureau of Labor Statistics released the Consumer Price Index this morning, and it showed that overall inflation rose 0.1% in May. Over the last twelve months, all items index increased 4% before seasonal adjustment.
"Regardless of the current inflation levels this month, the struggles for small businesses in hiring persist,” Andrew Crapuchettes, RedBalloon CEO, said. “The rising cost of living, coupled with the mismatch between wage growth and inflation, and the ongoing competition for job seekers, consistently places these businesses at a disadvantage when competing for top talent."
“When the Fed talks about diminishing economic activity to fight inflation, they are actually striving to put people out of work and small businesses in America out of business,” continued Crapuchettes, who was an early pioneer in the labor market data and analytics industry. “The Fed is making capital more difficult to obtain, which deeply impacts small businesses, and they want a higher unemployment rate, which means they are actually making more Americans unemployed.”
Read more about how small businesses can overcome wage inflation here. If you would like to schedule an interview with RedBalloon CEO Andrew Crapuchettes, contact Isaac Lopez at (208) 997 – 8013 or isaac@redballoon.work.
Founded In 2021, RedBalloon has quickly become America’s largest connector of employers and employees who prioritize a positive workplace culture free from the divisiveness of cancel-culture mandates. RedBalloon CEO Andrew Crapuchettes is a longtime business leader, entrepreneur, and innovator who has founded several successful tech companies and is widely considered a global pioneer in the development and use of labor market data analytics – an industry he helped found over 20 years ago.
###