August 1, 2014
The National Retail Federation calculated retail industry (excluding autos and gasoline) employment increased by 27,000 jobs in July. NRF calculated that retail gained 232,000 jobs year-over-year. The healthy and steady increase in retail employment was due to improved economic and seasonal factors in the second quarter and should provide for stronger growth in the second half of the year.
“Pickup in retail employment in July and the upward revisions to June and May are very encouraging,” NRF Chief Economist Jack Kleinhenz said. “The increase was due in part to seasonal hiring as well as improved business and consumer conditions. No one can guarantee smooth sailing ahead even though overall retail payrolls are encouraging. Choppy growth will continue.”
“Recent data increasingly show that the economy is on better footing, reflecting improved consumer and business confidence. Although the unemployment rate edged up, more seekers entered the labor force. The nation’s retailers are adding jobs at a healthy pace.”
The U.S. Bureau of Labor Statistics Employment Situation Summary showed that total nonfarm payroll emplyment rose by 209,000 in July, slightly below industry expectations. The unemployment rate ticked up to 6.2 percent and the civilian labor participation rate increased to 62.9 percent.
Source: National Retail Federation
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