Around 50 per cent of retailers will shed jobs in the first quarter of 2013, according to research by the British Retail Consortium.
Speaking to ITV Daybreak, Employment Minister Mark Hoban said that the overall employment figures are good, and that jobs are being created.
He added that the high street is changing and job descriptions will change too.
More top news
Police say at least one gunman armed with a high-powered rifle, began "shooting randomly" resulting in the death of a man in his 50s.
Ever wondered what the most expensive seaside town in Britain is? Find out here.
Provost of Eton College threatens to quit the Tory party over suggestions job applicants should be quizzed about private education.