The Retail Apocalypse: American Retail Is At A Tipping Point

Read more on this subject: Economy – Economics USA
News Story Source: http://www.trueactivist.com
The retail industry— formerly a cornerstone of American economy and culture— is fading fast into the background, and taking millions of entry-level jobs along with it.

Chalk it up to the casualties of the rapidly growing e-commerce industry. Between 2010 and 2014, e-commerce grew at a rate of $30 billion dollars annually, and that figure has increased to $40 billion in the three years since.

Technology is changing the job landscape. In the United States, currently about 1 in 10 people work in retail— but not for long. Since October of last year, an estimated 89,000 Americans have been laid off from jobs in general merchandise. This is a higher number than all the people in the country who are employed by the coal industry.   

Traditional brick-and-mortar stores are clearing out at a rate we haven't seen since the Great Recession in 2008. Shopping district displays have been replaced by vacancy signs, and many suburban malls and strip centers fee
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