Retail chains shutting down in NY -- What should Governor Hochul do to solve the problem?

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2023 is going to be a big one for the United States, not in terms of benefiting people by providing more jobs and relief programs but because of the shortage of jobs. Yes, there might be a shortage of job opportunities in different parts of the country because of the closure of many retail stores.

In New York State, a significant number of stores are reportedly closing their doors and this might leave many of us jobless.

As of now, the following store chains or retail chains have come to my notice that closed many of their branches and might close a lot more. The reason is said to be the underperformance of these chains all over the state.

• Macy's
• Walmart
• Bed Bath & Beyond
• Target
• Walgreens
• Best Buy
• Sprouts Farmers Market
• JC Penney
• Gap and Banana Republic
• Amazon
• Party City
• Bath & Body Works
• Tuesday Morning
• Big Lots!

What will happen in NYS?

As we all know, so many people work at these stores in New York State. Their closure means they will lose their jobs and may have to suffer. For instance, at Walmart, the average salary has been $19/hour (source).

What should Governor Kathy Hochul do?

The current minimum wage in the state is $15 per hour, which is likely to be increased from $20 to $21.25 per hour by 2026 (source). As we know that Walmart and other stores were paying a slightly better wage to the people, and those who lose their jobs or have lost already might have to suffer.

Kathy Hochul might like to raise the wage not by 2026 but within a few months. Also, they should provide people with more and more job opportunities.

Disclaimer: All the facts and quotes, etc. in this article are cited. Also note that I have no direct/indirect link with the service/program provider. The article is solely written for informational purposes.

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