Unemployment Falls to Ten Year Low Amid Mixed Jobs Report
The March jobs report shows unemployment at 4.5 percent, the lowest since May 2007, with 98,000 new jobs. Weather hurts some sectors but gains were seen in manufacturing and professional services, while wages remain largely flat and optimism is rising. Women led job gains as men’s rate stayed at 4.3 percent.
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Hhgregg to Liquidate After Bankruptcy Filing
Indiana based electronics retailer hhgregg Inc. plans to liquidate all stores and assets after failing to find a buyer. The chain filed for bankruptcy protection in March and will begin liquidating merchandise, furniture, fixtures and equipment across its 220 stores in 19 states.
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Retail bankruptcies and store closings hit hard in 2017
The U S retail sector shrinks with Payless Bankruptcy closing about 400 stores while Rue21 weighs bankruptcy. Polo at Fifth Avenue will shut, mall vacancies rise, and jobs drop as Credit Suisse projects thousands of closures this year. Analysts warn of a continuing shift to e commerce.
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