by Mike ‘Mish’ Shedlock
How is it that employment in the retail sector increased by 253,000 jobs since last August, yet total aggregate hours worked has not budged an inch?
Let’s take a look.
Please consider the Investor’s Business Daily article Why You Should Discount Obama’s Retail Hiring Boom
Economists have been puzzled all year over how retail employment has surged despite the fact that Wal-Mart (WMT), Macy’s (M), Kohl’s (KSS) and other major players were closing stores and laying off thousands of workers.