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Retail Employment Declines as Job Losses Hit the Sector

US Bureau of Labor Statistics reports a decline in retail trade employment, while other sectors show modest job growth

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The latest report from the US Bureau of Labor Statistics (BLS) reveals a decline in retail employment, with the sector losing 11,200 positions in June. The BLS data indicates minimal change in retail trade employment over the past year. In contrast, the manufacturing sector, including apparel and textile factories, saw a gain of 7,000 jobs during the same period. Overall job growth in June was modest, with nonfarm payroll employment increasing by 209,000, slightly below economists' expectations. However, other sectors such as government, healthcare, social assistance, and construction experienced job additions. The retail industry's challenges, including bankruptcies and the impact of shoplifting, have led to store closures by companies like Bed Bath & Beyond, Buybuy Baby, and Foot Locker.

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