Retail sector's employee count fell by 52,000, from 455,000 to 429,000 in 2023-24.
This drop is 17% of their total workforce
Retail demand weakened due to reduced consumer spending on non-essential
Inflation, higher interest rates, and job losses in other sectors contributed to this drop.
Retailers expanded their store space at the slowest rate in five year
Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.