From Yahoo Finance: 2025-06-09 05:27:00

The UK retail industry, a major employer, was recognized by the Prime Minister for its economic importance. Despite this, there is concern over job losses and lack of policy support. Retail employs over three million people but has lost significantly more jobs than the steel industry, prompting calls for intervention to prevent further layoffs and store closures.

A letter from the Prime Minister’s Business Adviser praised retail’s role in the economy but lacked a concrete plan to address challenges like rising costs and digital competition. The British Retail Consortium is urging the government to develop a retail employment strategy to support job creation and protect high street retailers. Criticism mounts over the gap between recognition and action, especially compared to other sectors.

As high street footfall fluctuates and consumer behavior changes, retail stakeholders are calling for a balanced policy approach that recognizes the sector’s importance. Retail leaders and unions seek tangible support to address structural challenges and ensure the industry’s long-term sustainability in the face of evolving market dynamics.

Read more: PM writes to retail leaders amid soaring job losses