Which Walmart jobs are hiring and why?
The unemployment rate is at a record low of 4.7%, according to the Labor Department, which is the lowest it has been in more than 50 years.
Walmart’s latest announcement suggests the retail giant has been putting more than a few of its employees out of work for a while.
The company has reported a loss of $13 billion, but it has managed to keep its workers employed despite the massive recession.
Walmart is not alone.
Many other retailers are losing their workers, too.
But this is the first time that Walmart has released the number of workers that are working, which has surprised analysts.
The retailer reported its first profit in seven years and announced its first quarterly profit in a decade.
The news came as Walmart also reported record quarterly profit.
The retail giant reported its third-straight quarterly loss, which included a $2.5 billion drop in net income.
Its fourth-straight profit came in at $2 billion, while its fifth-straight came in with a loss.
Walmart CEO Doug McMillon said the retailer’s profit fell as much as 12% from a year ago because of a combination of new orders and lower sales.
In a statement, Walmart said it is taking steps to “rebuild the business in a sustainable way.”
“We have a better product, better quality and better service that is helping to drive our business forward,” McMillon told analysts.
Walmart will report earnings on Wednesday.
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