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Amazon Could Be More Dangerous For American Jobs Than China Is
Just like other companies touting their importance to the U.S. labor market, Amazon recently announced plans to create 100,000 American jobs over the next year — but that figure ignores all the American jobs Amazon is expected to destroy.
Experts say every job Amazon creates is likely to eliminate up to three jobs in the U.S. as department store chains continue to close stores. Macy’s recently announced the elimination of over 10,000 positions and The Limited is liquidating 4,000, MarketWatch reports. Since 2012, employment at department stores has dropped 14% — a loss of 250,000 jobs.
That trend isn’t expected to stop anytime soon, especially with Amazon pushing aggressively into new sectors like grocery stores and restaurants. [MW]
