Big Companies: The Reason Why Wages Are Stagnant- by NEIL SISKIND

When Amazon or Starbucks opens a new store in Manhattan or China, it makes international news and circulates in the news feeds all day long- but when sixteen delicatessens and sporting goods stores from Cleveland to Orlando shut their mom and pop doors after 30 years in business, there’s not a word about it from the national media, even though it means job losses, real estate vacancies, retail support-service revenue losses, and losses for wholesalers to these stores.

From pizza shops to hardware stores, from liquor stores to clothing stores, from sign stores to cleaning companies- large companies have decimated Main Street jobs.

The people who get new jobs in large companies have to work more and make less. For example, a hardware store employee or owner who wants to stay in the hardware industry has to go work at Home Depot at a lower wage and longer hours.

Is Amazon replacing the wage of every owner and every employee of every bookstore and every sportswear store that closes on a Main Street somewhere? I think not.

The growth of large companies that are getting larger and taking market share from smaller retailers due to their better prices derived from their enormous scale is why the jobs are there- but the wages stink. The data speaks for itself.


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