Chelmsford, Mass. -- A report released Thursday by Kronos Inc. showed that hiring conditions among retailers are tightening, suggesting an improvement in the industry. The Kronos Retail Labor Index jumped to 4.1% in January 2012 from a downwardly revised 3.4% in December 2011. (This index is defined as the ratio of hires to applications within a given month, expressed as a percentage. A level of 3.0% means that for every 100 applications received, three hires occurred.) This was the second reading above 4.0% since October 2008 and primarily reflected a sharp decline in applications, as hires were little changed
Chelmsford, Mass. -- Monthly hires in the retail industry remain well above the lows reached during the recession and suggest retail hiring is continuing to improve following sharp declines in 2008 and 2009, according to the January Kronos Retail Labor Index. The Index dipped to 3.5% in December, reflecting a 7.6% drop in hires made. (The January report includes data for December 2011. The analysis and write-up is prepared by Macroeconomic Advisers LLC). “The December decline in hires followed a strong 8.0% increase in hires in November, which could indicate retailers made hiring decisions earlier in the year in
Retail hiring levels have reached the highest mark in nearly three years. The Kronos Retail Labor Index, which characterizes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 3.9 percent in September, reflecting a strong gain in hires and a modest decline in applications, all on a seasonally adjusted basis.