This is a good question really, I am not sure if it has that big of an impact, but at the same time it's certainly good for the economy because there are a lot of sales, even if the margins are lower.
I disagree that it creates permanent jobs, at most it creates some temporary jobs during this season. It just serves the purpose of making people spend money that they really should be saving...
I personally do not shop Black Friday because of how dangerous it is. It also can give people false hope that they have secured a job that will end after the holidays are over.
From what I have read spending was way down this year, so the holiday season in general may not give the economy much of a boost this year. I know a lot of the retailers around here didn't hire for the holiday season.
As the first reply mentioned, it does encourage people to spend money that they've saved up, and I'm going to take it from my dealing with cryptocurrency that the more the currency is circulated, the higher it's worth is.
Agree with this.. it has become almost crazy to where the retailers are not even making much profits on that day.
