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Retail layoffs could accelerate with a vengeance over the next year as the industry struggles with a newfound frugality among Americans, continuing weakness in the housing market and thousands of auto dealerships slated to close.
Year-over-year, the industry, which is the third biggest employer after the government and the services sector, has already lost more than 600,000 jobs. And 11% of all jobs lost so far in this recession have been retail related, according to the Labor Department.
While the best case scenario is an estimated 150,000 more store jobs shed over the next year, the report said "the potential exists for up to 600,000 additional retail jobs to be at risk."
It has to be Obama 660000 summer jobs.
Last edited by NEPatriot; 07-19-2009 at 11:10 AM..
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