BOA: Retail Job Losses Are Snowballing Into A Big Problem

Even though the number of retail job losses is not causing havoc in the labour market today, “the pace of adjustment away from brick and mortar towards online and likely to impact the overall data in time” according to a new research report on the topic of retail job losses from Bank of America. Brick and mortar retail losses have accelerated in recent months hitting a staggering 61,000 over February and March. Initially, this weakness was blamed on a slowdown in consumer activity on weak demand for seasonal goods. However, a deeper dive into the data suggests there is more…