Retail and Wholesale Job Security Index Plummets
Three Month Decline Capped by 9.9% Drop in July
The Scorelogix® Retail and Wholesale Job Security Index™ fell by 9.9 percent in July, marking the third month in a row that Retail and Wholesale job security has decreased. In the last thirteen months, the Retail and Wholesale Job Security Index™ has fallen eight times. This decline can be attributed to significant decrease in consumer disposable income, rising inflation, credit crisis and a weakening economy.
The decline in job security in Retail and Wholesale has occurred across all nine of the US census regions. The regions which experienced the largest drop were the East North Central and Pacific regions. The West South Central region recorded the smallest decrease in Retail and Wholesale job security at 8.4 percent.
The strongest individual States for Retail and Wholesale job security include South Dakota, Wyoming, Utah, and Nebraska. Michigan is by far the weakest State for Retail and Wholesale job security, with Mississippi, Rhode Island, Alaska, and California all struggling in this regard as well.
Top 10 States: JSI
| 1 | South Dakota | 174.1 |
| 2 | Wyoming | 169.9 |
| 3 | Utah | 163.2 |
| 4 | Nebraska | 162.8 |
| 5 | Idaho | 162.0 |
| 6 | North Dakota | 161.0 |
| 7 | Iowa | 153.3 |
| 8 | Oklahoma | 152.8 |
| 9 | New Hampshire | 149.9 |
| 10 | Hawaii | 149.4 |
Bottom 10 States: JSI
| 1 | Michigan | 60.2 |
| 2 | Mississippi | 82.0 |
| 3 | Rhode Island | 83.3 |
| 4 | Alaska | 89.5 |
| 5 | California | 92.9 |
| 6 | Illinois | 95.2 |
| 7 | District Of Columbia | 97.9 |
| 8 | Ohio | 100.7 |
| 9 | Tennessee | 101.2 |
| 10 | Kentucky | 101.5 |
Since April 2008, the Retail and Wholesale JSI has suffered an incredible 18.4% drop, signifying a continued lack of consumer confidence and resources. This is by far the largest decline over a three month period in the past year, and the July drop of 9.9% is the biggest single month decline in that time period as well. A crucial component to the reversal of these trends will be a stabilized economy and credit market, as these are intricately connected to individuals’ ability to spend money in Retail and Wholesale.
To obtain further information about Scorelogix’s Job Security Index, or to receive a more in depth analysis of the data provided above, please visit/email HERE.
###
Posts
