Retailers are hesitant to hire due to economic uncertainty, with the industry losing 6,000 jobs in February. The decline reflects a longer-running trend of flat retail employment levels, impacted by e-commerce and automation. Many workers are settling for part-time jobs in the retail sector, with the number of multiple jobholders increasing. Hiring gains in the retail industry have been slow, with some retailers downsizing and announcing job cuts due to store closures. Analysts predict a challenging outlook for retailers due to consumer pessimism, trade policies, and uncertainties around tariffs and immigration. While some retailers like Walmart and Macy’s are faring well, others are struggling to adapt to changes in consumer behavior and rising costs. The industry faces challenges from inflation, high interest rates, and policy uncertainty. Overall, retailers are preparing for turbulence ahead as they navigate economic uncertainty and shifting consumer preferences.
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