Monday, October 17, 2011

Business and job loss in America: mall vacancies growing

Those who simply read and rely upon government job and manufacturing reports will ignore the 'eye test' of simply driving down your city streets and watch as commercial property and strip mall vacancies continue to rise.

For every business that closes up, an estimated 5-100 jobs are lost, or removed from the economy.

Several economic indicators suggest it’s time for a Buggles revival: “Internet Killed the Radio Store.” The popularity of Internet shopping is having a considerable impact on the retail landscape; mall vacancies are at the highest level in measured history, big box stores are looking to reduce their footprints, and those selling book, electronics, and sporting goods are closing. During the third quarter, vacancies at regional and super-regional malls rose to 9.4 percent from 8.8 percent a year earlier and 9.3 percent in the second quarter, according to the New York-based property research company Reis. - Zerohedge

Courtesy of Reis Inc.

A few years ago, Best Buy competitor CompUSA closed down all of their Main Street stores and went solely online.  As more companies do this going forward, more jobs will be permanently removed from the system, and the ones that remain will be no different than the China sweatshops where workers assembly line packaging products for mailing and shipping.
The only solution for many Americans is to join the 4th wave of the economy.  Find a home business where you too can work from the internet, and not be reliant on a company to be your employer.  Otherwise, in today's world of shrinking main street businesses, you will find yourself unprepared for the paradigm shift.


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