The Decline in Retail Sales Jobs
7th October 2024
The final labor market trend we uncovered was a very rapid decline in retail sales jobs, show in the figure below. Retail sales hovered at around 7.5 percent of employment from 2003 to 2013 but has since fallen to only 5.7 percent of employment, a decline about 25 percent in just a decade. Put another way – the U.S. economy added 19 million total jobs between 2013 and 2023 but lost 850 thousand retail sales jobs. The decline started well before the pandemic.