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From Home Furnishing Business

Fast Fact: Employee Numbers Remain Below 2007 Levels as Furniture Stores Continue to Close

In what’s considered by many as the ‘Retail Apocalypse,’ retail store closings in 2019 are on pace to exceed closings in 2018, according to the most recent data from the U.S. Census Bureau’s Statistics of U.S. Business.  

Furniture store locations dropped 18.8% from 27,386 in 2007 to 22,201 in 2012, while home furnishings stores decreased 22.5% during the same time period. Furniture stores declined another 0.9% from 2012 to 2016, while home furnishings stores lost 5.3% more stores.

Paired with store closings, the decline in the number of employees decreased steadily from 2007 to 2012, employees in furniture stores diminished by 28.4%, while home furnishings stores cut employees by 29.8%. And though employment continues to slowly increase since 2012, it is still well below 2007 levels – 20% less for furniture stores and almost 24% less for home furnishings stores.

For a closer look at the numbers, click here.

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