A disappointing U.S. jobs report for May was particularly bleak for one sector i...
NEW YORK - A disappointing U.S. jobs report for May was particularly bleak for one sector in particular: American retailers.
The weakness of retail sector numbers stood out in a monthly U.S. employment report that fell well short of expectations overall, reflecting a broad-based cooling off in hiring by U.S. companies even as the national unemployment rate sits near a 50-year low. A handful of major, once-storied U.S. retail names have collapsed in the past several years from Toys ‘R’ Us to Sears Holdings Corp, and others have slashed jobs and closed hundreds of stores in hopes of reinventing themselves and adapting to changing consumer tastes.
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