Costco CEO: A Lot of People Are Experiencing a Recession Right Now and ‘Just Trying to Survive’

Costco CEO: A Lot of People Are Experiencing a Recession Right Now and ‘Just Trying to Survive’
Shoppers walk out with full carts from a Costco store in Washington on May 5, 2020. Nicholas Kamm/AFP via Getty Images
Katabella Roberts
Updated:
0:00

Costco CEO Craig Jelinek has warned that although the middle class is doing OK financially, people with less discretionary spending are having a difficult time in the current economy.

In a July 11 interview for CNBC’s “Squawk on the Street“ program, Jelinek said that while overall ”the consumer is not doing bad,” and the unemployment rate is down significantly, many are struggling with sky-high gas prices and the cost of living steadily rising.
Katabella Roberts
Katabella Roberts
Author
Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
Related Topics