Thursday, October 27, 2011
Is an export-led recovery still on the cards?
More than 20,000 high street jobs have disappeared in the past year as the downturn in consumer spending sees desperate retailers cut posts, reduce part-time workers hours and in extreme cases close stores. The retail sector had 23,000 fewer workers in September than the same month a year ago, according to grim figures published today by industry body the British Retail Consortium (BRC). The steep drop contributed to a 0.8% fall â€“ the equivalent of 5,780 full time retail jobs â€“ for the third quarter as expansion by the big supermarket chains picked up some of the slack. "With consumer spending now in recession and retail sales volumes declining, this is the biggest drop in overall retail employment in the two years since we began this survey," said BRC director Stephen Robertson.