November 7, 2014
According to the National Retail Federation, retail industry employment increased by 22,100 jobs in October. Employment gains were broad and consistent in most retail categories, especially in general merchandise stores, which saw an increase of 11,900 jobs. NRF figures do not include automobile dealerships, gasoline stations or restaurants.
“Today’s solid employment report is an indication that the economy is on firmer turf heading into the all-important holiday shopping season,” NRF Chief Economist Jack Kleinhenz said. “Retail employment growth was broad based with marked increases in a cross section of categories and positions.”
“With the labor market steadily improving and hiring increasing, we should witness a corresponding lift in business activity and consumer spending,” Kleinhenz said. “The economy is progressing toward sustainable growth with employment gains key to improved confidence and self-reinforcing economic growth.”
NRF forecasts that retailers and merchants will hire between 730,000 and 790,000 seasonal workers this holiday season.
Source: National Retail Federation
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