Holiday shopping is key to the bottom line for many retailers with sales across most retail categories rising in November and December.
And to handle the crowds of shoppers searching for the perfect gift, retail stores hire seasonal employees, starting in October. But when the holidays end, so does the need for all those extra workers, driving retail employment down.
From 2010 to 2021, the total number of jobs lost in January and February were greater than the number of employees hired for the holiday according to an analysis of Bureau of Labor Statistics (BLS) data. This means job cuts impact non-seasonal hires as well.
