Americans spend less on goods and more on vacation, fewer retail jobs

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Americans are spending less on goods and more on vacation — and that resulted in retail stores shedding 61,000 jobs last month

Even as fears of economic turmoil loom, labor market data is telling a different story: The country is adding jobs just fine., down from the 436,000 gain in April. That's above the 325,000 jobs that economists polled by Bloomberg estimated the country would add."The report shows that the job market is shrugging off fears of a potential slowdown," Daniel Zhao, senior economist at Glassdoor, told Insider.

As seen in the above chart, leisure and hospitality led the way in job growth. While leisure and hospitality had a net gain of 84,000 jobs in May, it's still 1.3 million payrolls below February 2020's level — a sign of the recovery still left to go. "It's sort of surprising" that losses"showed up that quickly and so largely in the data — but that seems a likely culprit for what we're seeing there," Bunker said.

 

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Also: retail stores depend on low wage workers. It is nearly impossible to find people who will work a wage that will keep the stores solvent.

美国人在商品上的支出减少了,在度假上的支出增加了,这导致零售店上月裁员6.1万人

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