As the coronavirus continues to put a chokehold on the global economy, U.S. unemployment rates are projected to skyrocket.
Yet parts of the retail sector appear to be less vulnerable. Retailers that integrate online sales with their brick-and-mortar operations could keep unemployment lower than other segments.
“There are opportunities here in the midst of all the carnage,” said Joel Naroff, chief economist of Naroff Economic Advisors. “If you have an online demand then you’re hiring.”
Ramon Cumberbatch, manager of Hero Ace Hardware in downtown Seattle, has been able to keep his doors open along a strip of shuttered clothing stores, restaurants and bars even as in-person transactions have lagged.
Because online orders have kicked up, he wants to grow his small staff of 10.
“I see no slowing down on hiring,” he said.
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