retail

Macy’s Shutting Stores, Fewer Job Opportunities for Americans, but Immigration Grinds On

Macy’s is closing 100 of its 776 retail stores. Looked at as a corporate decision, the closings make sense. Macy’s wants to emphasis its online business, and many of the stores to be shuttered are old. Macy’s CEO Terry Lundgren said that the United States simply has too much retail space to support a shrinking customer base: 7.3 square feet of retail space per capita in the U.S. compared with roughly 1.3 square feet in the U.K. and 1.7 square feet in France.

Cataclysmically Bad May BLS Report, Soaring Immigration, Advancing Automation, Set Backs for U.S. Workers

Analysts hoped that the May Bureau of Labor Statistics report would show job creation at 164,000. Instead, BLS reported only a feeble 38,000 new jobs. Save for slight employment upticks in health care and professional services, many of them part-time positions, the BLS data was bad.

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