Learn how the effects of a depressed labor market and lack of consumer confidence continue to facilitate major drops in retail sales.
With unemployment rates staggering, consumer confidence in the economy is on a downward plunge, according to Women's Wear Daily (WWD) who reports that retails sales continued to decline in both March and April. "A depressed labor market and lack of consumer confidence continues to play a role in what people buy and how much they spend," says Rosalind Wells, chief economist for the national Retail Federation to WWD. "Noticeable changes in consumer spending will take some time as the economy continues to rebuld itself through the rest of the year." How have you cut back on your spending?-QS