Consumer Spending Trends, Cash Flow Challenges, and the Retail Worker Safety Act

THRIVE, a Paychex Business Podcast · Sep 19, 2024 · 8m

In this week's episode, Gene Marks discusses concerns from a recent Wall Street Journal report about rising credit card delinquencies and higher interest rates, noting that banks, including Citibank, are worried about consumer's abilities to manage their debts. This could lead to decreased consumer spending, which impacts businesses across various sectors. Additionally, a new PYMNTS' report highlights cash flow issues for small businesses, showing that 70% have less than four months of cash reserves, with many owners foregoing their own paychecks due to financial strains. Gene also covers New…