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‘Unprecedented’ theft contributed to $112 billion in retail losses last year
(www.seattletimes.com)
this post was submitted on 28 Sep 2023
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In 2017 shrinkage accounted for $42 Billion, or 1.85%.. First off, that shows how crazy inflation is - $42 Billion was 1.85% then and $113 Billion is 1.6% now.
The other thing is that in 2017, wage theft accounted for $50 Billion in losses from workers. I would like to see how 2022’s wage theft numbers stack up against the shrinkage numbers.
Also a reminder that retail is using shoplifting as a propaganda piece with no actual basis in reality.
wages don't keep pace with inflation, so the difference won't be as dramatic.
Just a correction: wage theft accounted for up to $50 billion in 2014 according to the EPI, not 2017. That would be roughly $65 billion today. Like you, I would also like to see more recent numbers.
Idk where or how yr getting 65B
For simplicity; 40B in 2014 is 120B today. That's x3. That would out wage theft at 150B.
Which is far more believable. These mfers are in court in a dozen states over child labor violations, I don't think they suddenly found a conscious
Inflation has not been 200% over the past 9 years.
https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=50&year1=201401&year2=202308
$50 billion in 2014 equates to roughly $65 billion today.