About 89,000 retail workers have lost their jobs since last October, including many low-skilled entry-level workers or those who need flexible hours. It's a niche in the job market where there are now fewer opportunities.
(cont'd tomorrow)
Tuesday, April 18, 2017
Closing stores
Giant retailer Macy's will close 68 stores this year. Thousands of other retail stores will also close. Nine retailers have already filed for bankruptcy in 2017, an "alarming rate."
Customer visits to shopping malls have "declined by 50% between 2010 and 2013," and not every retail business can survive that kind of cut. It's not that these stores can be tweaked into success, according to this article, but that shoppers are "fundamentally changing" their habits, i.e. they're shopping online.
About 89,000 retail workers have lost their jobs since last October, including many low-skilled entry-level workers or those who need flexible hours. It's a niche in the job market where there are now fewer opportunities.
(cont'd tomorrow)
About 89,000 retail workers have lost their jobs since last October, including many low-skilled entry-level workers or those who need flexible hours. It's a niche in the job market where there are now fewer opportunities.
(cont'd tomorrow)
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