The retail sector in the US, excluding motor vehicles and motorcycles, is projected to experience a slight but steady decline in employment from 2024 through 2028. From 2023, when the employment figure stood at 13.64 million jobs, it is forecasted to fall to 13.48 million jobs by 2028. This represents a year-on-year decrease of approximately 0.22% to 0.25%, with a compound annual growth rate (CAGR) of approximately -0.23% over the five-year period.
Future trends to watch include the impact of e-commerce growth, which may continue to put downward pressure on traditional retail employment. Advances in automation and AI may further influence staffing needs and operational efficiencies, potentially reducing job numbers or transforming the nature of work within the sector.
