National Retail Federation: Retail industry employment saw a modest decline in September

WASHINGTON, 2017-Oct-10 — /EPR Retail News/ — Retail industry employment saw a modest decline in September, decreasing 4,600 jobs from revised August figures, the National Retail Federation said today (October 6, 2017). The number excludes automobile dealers, gasoline stations and restaurants. The economy overall saw a loss of 33,000 jobs in September.

“The recent hurricanes have caused distortions to economic figures and September employment numbers are likely to undergo dramatic revisions,” NRF Chief Economist Jack Kleinhenz said. “The silver lining is that hourly wages continue to gradually increase, giving households more spending power as the all-important holiday season approaches. Overall, the underlying momentum of the economy and the strength of the labor market remains firm.”

Kleinhenz noted that retail job numbers reported by the Labor Department don’t paint an entirely accurate picture of the industry because they count only employees who work in stores while excluding retail workers in other parts of the business like corporate headquarters, distribution centers, call centers and innovation labs.

Economy-wide, average hourly earnings have increased by 74 cents – 2.9 percent – over the past 12 months.  The Labor Department said the unemployment rate decreased to 4.2 percent, down from 4.4 percent in August.

About NRF
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:

Robin Roberts
press@nrf.com
(855) NRF-Press

Source: NRF

NRF: Retail industry employment in June gained 7,400 jobs over May

WASHINGTON, 2017-Jul-10 — /EPR Retail News/ — Retail industry employment turned a corner in June, gaining 7,400 jobs over May, the National Retail Federation said today (July 7, 2017). The retail numbers exclude automobile dealers, gasoline stations and restaurants. The economy overall saw gains of 222,000 jobs in June, far exceeding growth expectations for the month.

“The gain in June shows that the industry is still very much meeting the demands of consumers and households,” NRF Chief Economist Jack Kleinhenz said. “While one month does not make a trend, retailers are working through a transformative time and gearing up for back-to-school and the not-too-distant winter holiday season.”

Average hourly earnings in June showed a slight gain of 2.5 percent year-over-year, compared with 2.4 percent in May.

On a three-month average, retail jobs have decreased by 2,200 fewer jobs as calculated by NRF. On a year-over-year basis seasonally adjusted, retail jobs have decreased by 32,900 positions.

The retail sector saw mixed results in business lines in June with general merchandise that includes department stores registering a 12,200-job gain. This gain was offset by declines in the clothing segments and health and personal care, which lost a combined 12,600 jobs.

The Labor Department said June unemployment was at 4.4 percent, up from 4.3 percent in May.

About NRF
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:

Treacy Reynolds
press@nrf.com
(855) NRF-Press

Source: NRF

NRF: Retail industry employment decreased by 30,300 jobs in March from February

WASHINGTON, 2017-Apr-08 — /EPR Retail News/ — Retail industry employment decreased by 30,300 jobs in March from February, a substantially weaker-than-expected report due in part to weather patterns from mild temperatures to blizzards, the National Retail Federation said today(April 7, 2017). The numbers exclude automobile dealers, gasoline stations and restaurants. The overall economy gained 98,000 jobs in March, the Labor Department said.

“The focus should be on wages, which remained strong in March,” NRF Chief Economist Jack Kleinhenz said. “Wage growth translates into increased spending by consumers and benefits the economy overall. Nonetheless, some retail sectors have grown while others are continuing to adjust job deployment relative to changes in consumer behavior and buying patterns.”

“The rate of improvement in the labor market continues in a roller coaster pattern, but its pace is moving in the right direction and is probably consistent with an economy in its eighth year of expansion,” Kleinhenz said.

Average hourly earnings remained strong, coming in 2.7 percent higher than the same time a year ago compared with 2.8 percent in February. On a three-month moving average, retail employment shows a decline of 12,600 jobs.

The Labor Department said March unemployment fell to 4.5 percent, down from 4.7 percent in February and the lowest since May 2007.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:

Treacy Reynolds
press@nrf.com (855) NRF-Press

Source: NRF