Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Economy

Showing Original Post only (View all)

Crewleader

(17,005 posts)
Wed Jul 9, 2014, 09:51 AM Jul 2014

Wal-Mart's warning to the world [View all]

Wed, Jul 9, 2014,

Wal-Mart's warning to the world

by Lawrence Lewitinn



The official unemployment rate is down. But, if you think that means more money in the hands of consumers to spend at stores such as Wal-Mart, guess again.

Wal-Mart U.S. CEO Bill Simon has remarked in interviews thatthe discount retailer isn’t seeing the gains in employment trickling down to the chain’s cash registers. Simon said to CNBC:

“I think the economic numbers – the unemployment numbers in particular – have been difficult to read with the number of people dropping out of the workforce. And I think it’s going to take a while – six months or more – for the numbers to balance out…. Hopefully after six years, we're starting to gain a little bit of traction and that traction is coming at the top end. I think the middle and down is still pretty challenged.”

http://finance.yahoo.com/blogs/talking-numbers/wal-mart-s-warning-to-the-world-180944134.html
13 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Latest Discussions»Issue Forums»Economy»Wal-Mart's warning to the...»Reply #0