The retail apocalypse continues: More than 2 million jobs disappeared in April, the latest in a series of bad news for the industry

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According to the US Bureau of Labor Statistics, 2.1 million jobs were lost in retail for the month of April. Clothing and clothing accessories retailers saw the heaviest losses, with jobs declining by 740,000.

An additional 5.5 million jobs were shed in food services and drinking establishments.

Retailers from JCPenney and Macy’s to Gap and Victoria’s Secret announced in April they would be furloughing or laying off workers as they temporarily closed stores in response to the pandemic. Furloughed workers who are receiving benefits but not pay are classified as unemployed in the jobs report.

www.businessinsider.com/bankruptcies-job-losses-bad-week-retail-industry-2020-5#the-coronavirus-bankruptcies-began-2

 

 

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