Economic Report: Retail carnage continues as sector loses jobs for fourth straight month

The retail sector lost jobs in May for the fourth straight month and the sixth time in eight months, an unprecedented retreat at a time when the U.S. economy is expanding.

Retailers shed 6,100 jobs in May, the Labor Department reported Friday, with larger stores taking the brunt of the pain.

Also read:U.S. jobs growth slows to 138,000 in May

Department stores shed 3,700 jobs and what’s labelled “other general merchandise stores” — like Wal-Mart Stores WMT, -0.24% or Target TGT, -0.25% — shed 2,500 jobs.

Over 12 months, department stores have dropped 29,900 jobs and the general merchandise stores have eliminated 15,700 positions.

>>> Original Source <<<