October 3, 2014
According to the National Retail Federation’s calculations, retail industry employment increased by 35,500 jobs in September, with upward revisions for July and August. Employment gains were seen in most retail categories with the exception of clothing and clothing accessories stores, which lost 3,000 jobs, and health and personal care stores, which lost 900 jobs. NRF numbers do not include automobile dealerships or gasoline stations.
“As expected, today’s jobs report was positive news for the economy and the markets,” NRF Chief Economist Jack Kleinhenz said. “September’s employment figure is roughly in line with its performance over the last six months and shows that the July and August data was just a temporary blip.”
“The employment figure should set the table for a healthy fourth quarter as we head into the all-important holiday shopping season,” Kleinhenz said.
“Economic data released in September, including the jobless benefits claims, supported stronger payroll growth and employment,” Kleinhenz said. “The jobs report indicates no evidence of wage pressure and should allow the Federal Reserve to stay the course.”
The U.S. Bureau of Labor Statics Employment Situation Summary showed that total nonfarm payroll employment rose by 248,000 in September. The unemployment rate fell slightly to 5.9 percent and the civilian labor participation rate remained relatively stable at 62.7 percent.
Source: National Retail Federation
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