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Retail job cuts highest since October 2020: report

November 6, 2023


While retailers are preparing for the busiest season of the year, the industry, alongside the overall labor force, appears to be reducing its workforce compared to a year ago. According to Challenger, Gray & Christmas’ report, U.S. employers eliminated 36,836 jobs in October, down 22% from the previous cuts announced in September but 9% higher than a year ago.

Retail hiring has been slowing in recent months, other reports suggest. According to talent acquisition technology firm iCIMS, retail hiring and job openings in September dipped 12% and 25% respectively, but job applications jumped 46% from last year.

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