Hiring may not be as robust this holiday season if retailers look back at last year, when the industry added the lowest number of jobs since 2009.
Add in store closings since last Christmas and the higher tariffs retailers are paying, and temporary holiday jobs — while still plentiful — may be a little harder to find this year.
And then there are the consumers who are spending about 10% of their disposable incomes on nonmortgage debt, said David Berliner, leader of BDO’s restructuring and turnaround services. Consumer borrowing surged in July with borrowing up by $23.3 billion after rising $13.8 billion in June.
“The consumer is borrowing at a rapid pace. That’s great as long as the economy stays strong,” Berliner said. “But consumers