Low Layoffs In The US Retail Market Even As Numbers Suggest Some Corrections

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A report released by the Bureau of Labor Statistics on Tuesday reveal that layoffs are at their lowest in February since September last year. Leading employers in the United States are looking to hire people on a large scale as they aim to fill in 5.7 million vacancies. January was the month in which layoffs hit an eight month high. That figure came crashing down by 75,000 to less than 1.6 million in February, suggesting an impressive performance.

According to the Bureau, the number of people who quit their work place voluntarily also came down but not by big margins when compared to November and December figures.

The retail numbers are reeling according to reports but that has not resulted in any major layoffs in the US, not yet at least. Faced with the pressure and cost of digitizing business process, retailers in most business sectors are being forced to trim employee numbers but it has not yet happened in the US retail sector on a major scale so far but there is a strong indication that it could happen sooner than later.

The impressive performance of the goods producers could be the one reason why employers are hesitant to downsize staff numbers.

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Kenny Granite

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