Arrests by Immigration and Customs Enforcement (ICE) were up in 2017, but not as dramatically as you might think. What has increased is the visibility of these arrests and the fear that they bring. It is generally believed, without only scant evidence, that undocumented immigrants are leaving the US in large numbers. This would continue a downward trend which started in 2007.
Some people might cheer this action, but as a whole the economy probably isn’t. Undocumented workers do jobs that no one else wants to, for the most part. Their absence means that work is not being done and wages are rising rapidly in areas that have depended on cheap labor for years. There may be signs that this is accelerating and will ultimately spark a high rate of inflation and even shortages.
Target stores are raising their employees’ minimum wages to $11 per hour immediately, with a pledge to hit $15 per hour by 2020.
This may seem like a victory for the Democratic platform to raise all workers’ pay to a livable wage, and in many ways it is. But it’s also an important victory for the free market, which is proving that the cyclical depression of workers wages was indeed a temporary, demographically driven problem which will be overcome. It just takes a tremendous amount of time – really a full generation. More importantly, it shows the direction of retail and possibly the service industry as a whole does have a future as an important part of a dynamic economy. Continue reading
It’s time for the Barataria annual Holiday Shopping Report! As we’ve done every year, the best information from those who analyze and predict the season ahead is put into one place. It’s a bit later than usual this year due to severe bizziness on my part, but it’s coming in ahead of the dreaded Black Friday.
Ready for a huge Christmas buying season? So are most retailers. But there are some important caveats.
The holiday has come. If you’re safely tucked in to your warm winter bed the last thing you may want to think about is shopping. If it ain’t done by now, well, it may not be done. It’s all good. But that is what defines the season for many people and the success of it determines whether or not visions of sugarplums dance in your head about now.
Even if you’re not into the whole rush-rush buying frenzy, a good strong retail season is good for everyone. We can say that this year because if you’d rather think back on the blessings of the year, as any righteous person should, this has been a very good year for the economy. All that remains is for people to accept it and move forward with glad tidings of the season. The shopping sesaon, that is.
Did you hit the stores for “doorbuster” deals and a mad rush for great deals? If you did, you’re one of a smaller group every year as Black Friday and its even darker sibling on Thursday become a feature of Thanksgiving past.
The final data is not in, especially with “Cyber Monday” still in front of us. But this weekend was particularly weak and, if the past is any indication, a sign of a bleak holiday shopping season. But no one thinks this will hold as shopping patterns are changing. The forecast remains for a robust gain of 4.1% year over year.
The death of the Black Friday frenzy is a big story of the year if this pulls out.
It’s just about shopping season! Last year, 19.2% of all retail sales were holiday sales – the stuff outside of food, gasoline, and other consumables that took place in the 28 days between Thanksgiving and Christmas. That’s a total of $597B. This year, there’s one more day in that period and retailers hope for a decent increase.
Will this be a good holiday season that finally shakes off the blues that have plagued retail for the last six years? We’re about to find out.
A store can’t make a profit if it isn’t open, can it? On one very special day of the year, however, it may be much more profitable to stay closed. That special day is Thanksgiving, a sacred holiday that unites families and many traditions of this great Promised Land of North America.
How is that possible? Because the backlash against being open ahead of “Black Friday” is growing and more stores are not just staying closed but announcing their plans proudly. It’s becoming a great selling point that may help them boost sales in the weeks after – and perhaps put an end to the horrible encroachment on Thanksgiving without a single law being passed.