WASHINGTON — The fashion industry, jittery about the faltering economy, cut payrolls across the manufacturing and retail sectors last month as the overall employment picture worsened and fears of a recession deepened.
Posting the biggest employment drop in more than four years, employers slashed a seasonally adjusted 17,000 jobs in January, a worse-than-expected showing, according to the Labor Department. The jobless rate slid to 4.9 percent last month from 5 percent, which some economists said was statistically negligible or simply a correction after the sharp jump in December to 5 percent from 4.7 percent.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)