US Retail Industry Records Job Growth In June
The US retail industry saw an increase of approximately 7,400 jobs during May, according to the National Retail Federation. These numbers exclude automobile dealers, gasoline stations and restaurants.
On a three-month average, retail jobs have decreased by 2,200 fewer jobs, the NRF calculated
“The gain in June shows that the industry is still very much meeting the demands of consumers and households”, said NRF Chief Economist Jack Kleinhenz.
“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”.
The overall US economy gained 222,000 jobs in June, far exceeding growth expectations for the month. However, unemployment still rose to 4.4% from 4.3% in May, according to the Labor Department.
At the same time, average hourly earnings showed a slight gain of 2.5% year-over-year, compared to 2.4% in May.
General merchandise retailers, including department stores, registered a 12,200 job gain in June. The wider retail sector, however, saw mixed results with declines in the clothing segments and health and personal care, which lost a combined 12,600 jobs.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Larissa Zimmer. Click subscribe to sign up to ESM: The European Supermarket Magazine.