UBS Predicts 80,000 More Retail Stores Will Close In Five Years

The good news is that auto parts, home improvement, and grocery retailing will be less susceptible to the retail apocalypse. 

However, there is more bad news. The labor market recovery is not robust. The economy is still short 8 million jobs and 19 million people are collecting some form of unemployment insurance. This is a large swath of the population who have fallen into financial hardships and are increasingly unlikely to return to their jobs (and thus, absent UBI, in a vicious cycle can no longer spend like pre-COVID times).

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