President Barack Obama gave the second of seven major economic policy speeches this summer today at the Amazon Fulfillment centre in
Chattanooga, Tennessee.This comes only a day after Amazon announced that it is adding 7,000 jobs, 5,000 of which will be at its distribution centres.
As the largest online retailer in the world, Amazon obviously has a major economic impact here in the states.
The fact that it does so while also creating thousands of jobs (tens of thousands during the holiday season) makes it an obvious example for President Obama to point to when looking at how government and private enterprise can work together to get out of the jobs hole that we’ve been in for the last half-decade.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
Here's a worker picking items from the shelf. She's one of the 70,000 employees working at Amazon's U.S.-based fulfillment centres last year during the holidays.
Here's a worker sending off items on the conveyor belt for packing and shipping. She's one of the 2,000 employees that worked on Cyber Monday to ship out orders.
Amazon owns 10 per cent of North American e-commerce. Office Depot, Stapes, Apple, Dell, Walmart, Sears, and Liberty all own another 10 per cent of the market - combined.
Last year, when Amazon's site went down for 49 minutes the company missed sales of nearly $5.7 million.
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