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NEW YORK - A decline in sales at the nation’s retailers in November after two consecutive months of gains is an ominous warning sign for the holiday shopping season and for an economy in the early stages of a fragile recovery.
Many merchants may be forced to discount more than they planned to get financially strapped holiday shoppers to buy after last weekend’s respectable bargain buying surge didn’t offset weak spending for the rest of the month.
The 0.3 percent decline, according to one measure, is especially worrisome because it comes on top of a freefall last November as spooked shoppers went into a defensive crouch after the financial meltdown
Originally posted by lpowell0627
This headline should simply read:
Americans: Spend money for the Holidays! Trust us! Spend money! It's all good!
In essence, that's really the only point to it and as already pointed out the majority of jobs that were filled were seasonal employment and not at all indicative of a permanent recovery in the jobs sector.
Originally posted by Jessicamsa
I was hired at Wal-mart for the holiday season.
They're cutting people's hours already, and Christmas hasn't got here yet. Sales are way down.
"only 11,000 jobs" is still more people who are out of work. How is any type of loss instead of growth touted as a good thing?
Originally posted by D.E.M.
reply to post by Rockpuck
Quite so. Service industry as well, Starbucks and it's associated ilk. Hire tons to get through the christmas rush, fire them in January to get a good bottom line.
Its a disgusting industry, glad I got out of it.