Nov 24, 2017

5. E-commerce is creating jobs, not killing them

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Data: St. Louis Federal Reserve; Chart: Chris Canipe / Axios

The growing popularity of online shopping has hit traditional retailers hard, culminating in a spate of retail bankruptcies and store closures in recent years. But according to an analysis from the Federal Reserve Bank of New York, the retail apocalypse has actually created nearly as many jobs as it has killed.

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A decline in business lending shows the impact of manufacturing's struggles

Data: Federal Reserve Bank of St. Louis; Chart: Axios Visuals

U.S. commercial and industrial lending fell by $9 billion in December, the largest drop in nearly three years, and the total amount of C&I loans declined to levels last seen in May, data from the St. Louis Fed shows.

Why it matters: The decline in lending to commercial and industrial businesses is the latest sign that the recession in U.S. manufacturing and continued struggles in goods-producing sectors of the economy are spreading. The Commerce Department reported that U.S. business investment had contracted for six straight months as of the third quarter, and had the biggest drop since the end of 2015 in Q3.

Go deeper: Manufacturing should bounce back in 2020

Keep ReadingArrowJan 15, 2020

Growing divide between the two Americas

Illustration: Aïda Amer/Axios

Life in the U.S. is increasingly divided into two realities — one in which things have almost never been better and another in which it's hard to imagine them being worse.

Driving the news: Bankruptcies led more companies to announce job cuts last year than at any time in more than a decade, WSJ's Aisha Al-Muslim reports (subscription), citing data from outplacement firm Challenger, Gray and Christmas.

Go deeperArrowJan 3, 2020

A record for out-of-store spending

Illustration: Aïda Amer/Axios

Americans are now spending nearly as much money remotely as they are in person.

Why it matters: It's a nod to the e-commerce boom, where corporate giants like Amazon and other businesses that bulked up their online presence are cashing in like never before.

Go deeperArrowDec 20, 2019