Back to today’s briefing

Story perspectives

U.S. Retail Job Cuts Soar 249% Amid Economic Turmoil

8/5/2025

34 5

Summary

Story summary

U.S. retail job cuts surged to 80,487 by July, marking a 249% rise from last year.
Overall job cuts across industries reached 806,383, the highest level since 2020.
Retailers closed over 9,900 stores, with only 7,700 openings.
Economic factors such as tariffs and inflation are prompting layoffs and closures.
Despite challenges, some retailers, like Spirit Halloween, continue to hire for the holiday season.

1 of 1

Story summary

U.S. retail job cuts surged to 80,487 by July, marking a 249% rise from last year.
Overall job cuts across industries reached 806,383, the highest level since 2020.
Retailers closed over 9,900 stores, with only 7,700 openings.
Economic factors such as tariffs and inflation are prompting layoffs and closures.
Despite challenges, some retailers, like Spirit Halloween, continue to hire for the holiday season.