7 million retail jobs will be lost in the coming years warns alarming report

Read more on this subject: Employment & Jobs
News Story Source: http://www.naturalnews.com
(Natural News) A report by investment advisory firm Cornerstone Capital Group revealed that nearly half of all retail workers in the U.S. face job insecurity as use of automation technology continues to rise across the country. According to the report, around 16 million people in the U.S. work in the retail industry. This equates to about one in 10 American employees, the 56-page report showed.

However, the advent of automation technology could lead to roughly six to 7.5 million retail workers losing their jobs in the coming years. This puts them at risk of becoming stranded workers, the researchers said. According to the report, retail cashiers were projected to suffer the most number of job losses. Nearly a quarter of retail cashiers are women, the researchers noted. The report also stressed that the job losses will significantly impact the working poor, as most retail workers paid on an hourly basis live below the poverty line.

"This in-depth examination of retail au
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