04/23/2018

News

The retail apocalypse is creating a ‘slow-rolling crisis’ that is rippling through the US economy

Since October, about 89,000 workers in general merchandise stores have lost their jobs, which is more than the number of people employed in the entire US coal industry, The New York Times reported. . . The retail industry, which employs about one out of every 10 American workers, typically pays low wages but provides employment to people in every age bracket, as well as those who are low-skilled and need flexible scheduling options.

So when these workers lose their jobs, they can have a hard time finding other employment.

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California may be the most desirable place to live in the US, but employers can’t recruit ‘high-performers’ thanks to insane housing prices

According to a new report from the University of Southern California and the Los Angeles Business Council, exorbitant housing costs in Los Angeles, the second most populous city in the US, are inhibiting employers from attracting “high-performers,” or top talent, to their companies.

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The number of new businesses in the US is collapsing — and that’s disastrous news for the economy

Both the formation of firms (for example, McDonald’s as a whole) and establishments (an individual McDonald’s restaurant), have dropped off precipitously since the financial crisis and remained low.

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Ranked: The 50 US State Economies from Worst to Best

California had the fifth-highest wages in the country, with a Q2 2014 average weekly wage of $1,072. The state’s housing prices went up 8.12% between Q3 2013 and Q3 2014, the third-biggest jump in the country. The state government’s huge 2013 surplus of $32 billion was the largest of any state.

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Personal Income and Spending Misses Expectations

Personal income rose less than expected while personal spending fell more than expected in January.

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