Over 41,000 retail workers lost their jobs in the first two months of 2019.
This led to a rise of 92% in layoffs over the previous year. What is causing this?
Many attribute it to online sales which ate into physical store revenues for years. The online retailers had a poor holiday season also which negates some of this argument.
The truth is the U.S economy has been slipping for a while. The December, January, and February numbers do not look good. This is a trend that is likely to continue if retailers are foreseeing a recession on the way.
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