NRF: Retail Employment Jumped by Nearly 13,000 Jobs in November
Retail employment jumped by nearly 13,000 jobs in November, according to the National Retail Federation. The exact figure, 12,900 jobs, excludes automobile dealers, gasoline stations and restaurants, NRF noted. Retailers’ holiday hiring traditionally helps boost November’s numbers. The annual hiring of temporary holiday workers is on track to reach the high end of the NRF's forecast of between 500,000 and 550,000 positions, according to the NRF.
“This was one of the strongest gains we’ve seen all year,” NRF Chief Economist Jack Kleinhenz said. “You expect employment to be up during the holiday season and retailers are expecting strong holiday sales with related job growth, but overall growth in the economy has to be recognized here as well. We’re also seeing new jobs in other sectors of the economy, particularly industrial, and that means more demand for retail goods and a need for more retail workers.”
Total Retail's Take: While this is certainly good news for the retail sector and the economy as a whole, the November numbers came after a monthly loss of 10,300 jobs in October. Overall, employers added 228,000 jobs in November, another healthy economic sign as retailers wind down the year with the holiday sales push, according to the monthly report from the Labor Department. In other good news, the NRF forecasts that this year's holiday sales will grow between 3.6 percent and 4 percent.