Retail slump slashes jobs

RETAIL staff are facing a bleak future due to February employment levels plummeting at their fastest rate in 22 years, the latest CBI figures suggest. Researchers blamed a poor retail climate for 37 per cent of firms reporting a fall in employment. Meanwh

RETAIL staff are facing a bleak future due to February employment levels plummeting at their fastest rate in 22 years, the latest CBI figures suggest.

Researchers blamed a poor retail climate for 37 per cent of firms reporting a fall in employment.

Meanwhile, 40 per cent of shops said sales were down on a year ago.

However, over the longer three-month period, sales actually improved as November's record low dropped out of the figures.


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But despite the improving underlying trend, sales still remained below the seasonal average, the CBI added.

"Confidence about the overall retail outlook has recovered since November's low and some retailers now expect a slight improvement in sales over the coming month," said John Longworth of the CBI.

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