Of course the truth is that things have been rocky for the retail industry for quite a few years, but the numbers are telling us that this crisis is really starting to accelerate.
According to Challenger, Gray & Christmas, retail layoffs were up a whopping 92 percent in January and February compared to the same period a year ago. The following comes from NBC News...
More than 41,000 people have lost their jobs in the retail industry so far this year - a 92 percent spike in layoffs since the same time last year, according to a new report.
And the layoffs continue to mount, with JCPenney announcing this week it would be closing 18 stores in addition to three previously announced closures, as part of a "standard annual review."













Comment: Similar trends are occurring throughout the Western world, and citizens have been suffering the deteriorating economy ever since the financial collapse in 2008, it's only now that their savings are spent and they realize there really is no recovery in sight:
- UK retailers requesting rent reductions, shutting stores and laying off staff as economy tanks
- UK economic collapse accelerating: 28% increase in shops going bust, biggest slump since 2009, food and fuel prices rise
- What do the protesters in France want? Check out the 'official' Yellow Vest manifesto
- 'Prison time for fraudsters': Salvini calls for elimination of Italy's Central Bank
- Fraud, deception, laundering - Bailed out banks still behaving badly and no one's stopping them
Also check out SOTT radio's: