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Amazon’s stranglehold on the U.S. economy is growing ever tighter, with devastating effects for the job market, says a report released Tuesday afternoon.

The group’s wide-ranging analysis details how Amazon, which recently saw annual revenue top a stunning $100 billion, has reshaped the way Americans shop and radically altered the job market.

After years of undercutting other retailers by selling products at a loss, funneling its customers into its super-convenient Prime service and ― essentially ― perfecting the art of online retail, Amazon is now synonymous with online shopping itself.

Taking into account goods sold through third-party retailers on its site, nearly $1 of every $2 spent online currently flows through Amazon, the report found. That’s had devastating consequences for retailers who simply can’t compete ― both online and out in the real world (remember Borders?).

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Ralph Freso/Reuters
Amazon’s massive warehouses have essentially displaced brick-and-mortar retailers around the country. 

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http://www.huffingtonpost.com/entry/amazon-jobs_us_583db239e4b06539a78a7992

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