UK retail loses 650K jobs in five years

Since 2017 the UK retail sector has lost nearly 650,000 jobs, according to new research.

Figures from the Centre for Retail Research reveal that there were more than 105,000 job losses last year alone.

There were also over 11,000 store closures during the same 12-month period.

Job losses were even higher during the height of the pandemic in 2020, with over 182,000 recorded. 16,000 shops were shut during that time.

But post-covid the retail sector was still suffering with 143,000 in 2019 and a further 16,000 stores permanently shut.

The study shows that so far this year, there have been 18,000 job losses and 1100 store closures.

The figures come after research published last week found that nearly a third of retailers actively want to leave their jobs.

A study of 1,500 workers from The Retail Trust as part of its Health of Retail report showed that factors such as the cost of living (24 per cent) and abuse from customers (30 per cent) were driving low morale amongst the retail workforce.

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