Posted on 07/09/2009 6:54:00 AM PDT by tobyhill
Escalating job worries and rainy weather dampened shoppers’ appetite for buying summer staples like shorts and dresses, resulting in sharper-than-expected sales declines for many merchants in June and increasing concerns about the back-to-school shopping season.
As retailers reported their monthly figures Thursday, the weakness cut across all sectors but to hit clothing stores particularly hard.
Even low-priced Costco Wholesale Corp. saw same-store sales decline compared with June last year, when stimulus rebate checks helped business. Wal-Mart Stores Inc. no longer reports same-store sales each month.
(Excerpt) Read more at msnbc.msn.com ...
New unemployment is down because state unemployment workers got last Friday off as a holiday. Once they catch up, the numbers will be back up to record numbers.
Even here in Houston, the economy is down. I’m in manufacturing and this week I laid off 25% of my workforce while cutting hours for all of the others. Of course, I did not take a paycheck this week for myself or family members.
I got on the phone calling competitors and tried to find jobs for my laid off workers. 60% of the shops I called said they had ZERO work on the floor.
Fellow Freepers, its time to cut living expenses to the bone and try to ride this out.
Or it could be that smart conservatives are saving their money in these hard times, a very prudent thing to do. They don’t need many things in this world...food, clothing, and shelter...so they are sticking to the basics. The welfare class and government bureaucrats are going to have to really shop if they are going to jump start BO’s economy.
“New unemployment is down because state unemployment workers got last Friday off as a holiday. Once they catch up, the numbers will be back up to record numbers.”
You are correct about the state holiday but also those that were on the books to begin with have now used up their time and get ZERO in benefits.....now that’s the result hope and change for ya. NOTHING, NADA, ZERO!!!!
a very prudent thing to do, and fun too, I’m getting a kick out of how low I can go in spending.
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