[[{“value”:”It is steeper than I had thought: The final labor market trend we uncovered was a very rapid decline in retail sales jobs, show in the figure below. Retail sales hovered at around 7.5 percent of employment from 2003 to 2013 but has since fallen to only 5.7 percent of employment, a decline about 25
The post The decline in retail sales jobs appeared first on Marginal REVOLUTION.”}]]
It is steeper than I had thought:
The final labor market trend we uncovered was a very rapid decline in retail sales jobs, show in the figure below. Retail sales hovered at around 7.5 percent of employment from 2003 to 2013 but has since fallen to only 5.7 percent of employment, a decline about 25 percent in just a decade. Put another way – the U.S. economy added 19 million total jobs between 2013 and 2023 but lost 850 thousand retail sales jobs. The decline started well before the pandemic.
And STEM jobs truly are on the rise, even though that is what they may be telling you in school:
The figure also shows rapid employment growth in business and management jobs. The fastest growing occupations in that category are science and engineering managers, management analysts, and other business operations specialists. This is especially striking because STEM employment declined slightly between 2000 and 2012.
With a good picture at the link. That is all from David Deming, with further interesting material throughout.
The post The decline in retail sales jobs appeared first on Marginal REVOLUTION.
Data Source, Economics, Web/Tech
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