Connect with us

Headlines

Retail Sector Slumps in Jobs Report

Retail loses 22,000 jobs in June, poised for more in July

Published

on

Despite the U.S. Labor Department’s reports of more than 200,000 jobs added in June, putting the unemployment rate at 4 percent, the retail sector was a weak spot in the report.

The retail industry lost 22,000 jobs in June, erasing most of the gains posted in May, reports The New York Times. Some of those losses are being credited to store closures, however, the closing of all Wayne, N.J.-based Toys “R” Us stores will likely not show until the July jobs report.

There is escalated anxiety around how Trump administration-imposed tariffs on China will affect jobs, with the Fed noting in its meeting last month that the new policy could eventually “have negative effects on business sentiment and investment spending. Business owners remain uncertain about the consequences of the tariffs, according to recent surveys, says the Times.

Advertisement

FEATURED VIDEO

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

Promoted Headlines

Advertisement
Advertisement

Subscribe

Advertisement

Facebook

Most Popular