You may not have noticed a huge difference in your everyday life due to the government shutdown, but retailers are feeling it where it hurts the most; in their wallets. According to an article published by Yahoo! Finance on October 10, the National Retail Federation sent an open letter to government officials explaining how the shutdown is hurting retailers.
Yahoo! Finance reports that the government shutdown is effectively killing the holiday shopping season for retailers. Reports indicated that the shutdown is affecting retailers in ways most people wouldn't even consider as they head into their most profitable quarter of the year.
Retailers traditionally hire around 700,000 seasonal workers around the holiday shopping season, which reportedly accounts for about $3 billion dollars in wages. However, with the government shut down, they aren't able to check the eVerify system to determine the immigration status for potential employees, so the positions aren't getting filled.
Additionally, retailers will be forced to order their holiday merchandise blind because the national retail sales data won't be released due to the government shutdown. Officials warn that without the sales data retailers are likely to order less merchandise.
So while it may seem like the government shutdown isn't doing much to affect your everyday life, you can be sure it is impacting things in ways that may not be reversible.
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