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After a steep rise following the financial crisis, U.S. retail jobs have been plummeting since the start of the year.

Why this matters: The likely irreversible plunge in these relatively low-wage jobs — $18-an-hour employment for teens, adults, immigrants and senior citizens for generations — primarily affects the working class people whose shrinking opportunities have underpinned populist politics in the U.S. and abroad. And the jobs being created in their stead, in online warehouses for companies like Amazon, are too few to soak up those displaced.

Expand chart

Data: Bureau of Labor Statistics; Chart: Lazaro Gamio / Axios

Our thought bubble: Until now, retail workers — unlike the car-making and coal-mining industries — have made little political splash. Look for that to change.

The numbers: U.S. retail jobs (mainly cashiers and sales people) plummeted by about 60,000 in the first three months of the year, to about 15.85 million, according to preliminary data from the Bureau of Labor Statistics.

Reality check: That decline is more than the 53,000 people employed in all aspects of coal mining, including executives and administrative staff, an industry on which President Trump has been fixated.

What they're saying: "The backdrop is that there have been significant layoffs in major retail including department stores," said Mark Muro, of the Brookings Institution. "The department store platform seems to be falling apart."

Why now? The dramatic consumer rush to online shopping. This is reflected in a rise in the number of jobs in Amazon-type jobs, which pay more — an average of about $25 an hour, according to the BLS. But Amazon and the other online merchandizers are rapidly automating, so the number of jobs rose only by 9,300 in the first three months of the year, to about 555,700.

Go deeper

Sarah Palin tests positive for COVID, delaying defamation trial

Sarah Palin. Photo: Matthew Staver/Bloomberg via Getty Images

Former Alaska Gov. Sarah Palin (R) tested positive for COVID-19 on Monday, delaying the start of her defamation trial against the New York Times.

Why it matters: The trial will be closely watched, as it's a rare instance of a major media company defending its editorial practices before an American jury.

S&P 500 slides into correction territory

Data: FactSet; Chart: Axios Visuals

Stocks suffered their worst drop of the year, pushing the S&P 500 on track to fall into a "correction."

Driving the news: The benchmark S&P 500 dropped for its fifth straight day, with losses nearing 3% in early trading.

Updated 2 hours ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Fauci: "Confident" Omicron cases will peak in February — FDA OKs antiviral drug remdesivir for non-hospitalized patients — Walensky: CDC language "pivoting" on "fully vaccinated."
  2. Vaccines: The shifting definition of fully vaccinated — Annual vaccine preferable to boosters, says Pfizer CEO — Team USA 100% vaccinated ahead of Beijing Olympics.
  3. Politics: Virginia school boards sue Gov. Youngkin for lifting mask mandate — Gonzaga University revokes NBA great John Stockton's tickets over mask stance — Arizona governor sues Biden administration over funds tied to mandates.
  4. World: Beijing Olympic Committee lowers testing threshold ahead of Games — Beijing officials urge "emergency mode" before Winter Olympics — Austria approves vaccine mandate for adults.
  5. Variant tracker

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