Retail Sales Drop 2.7 percent in December

Well, it is no doubt that our country is in a recession. The decline in sales for december of 2008 was just another reminder of how poorly our economy is doing. According to time magazine, the december 2.7 drop "was the first time the annual retail sales figure has fallen on government records going back to 1992." (Time, Retail Sales Drop 2.7 Percent in December). The six month straight decline has ultimately resulted in loss of jobs, cut back on store inventory, and companies filling for bankruptcy. According to time, "The worry is that the current downturn will be intensified if businesses keep slashing inventories, which will trigger further cutbacks in production and increased layoffs."
As a senior at UNCG, i am very concerned with the stability of our economy. I am terrified to enter the job market right now, as it is shrinking more and more every month. Looking back to freshman year, 2005-2006, i would have never thought that our economy would take such a harsh turn in just four years. Right now, i am just hoping that by the time i graduate in december of 2009, that our economy will pick up and not continue to decline.


Retail Sales Drop 2.7 Percent in December