The retail industry saw a decline of 8,300 jobs in November compared with October but employment in the industry was up by 135,000 jobs compared with the same month last year, according to calculations released today by the National Retail Federation. The numbers exclude automobile dealers, gasoline stations and restaurants.
“Consumers are feeling confident, and today’s job figures suggest that the labor market is healthy and improving.”
Jack Kleinhenz
NRF Chief Economist
“Consumers are feeling confident, and today’s job figures suggest that the labor market is healthy and improving,” NRF Chief Economist Jack Kleinhenz said. “The market continues on its variable path toward full employment and today’s report points to a rate hike by the Federal Reserve.”
“We continue to expect a positive holiday season for retailers, and it appears that retailers should have the employees they need in place to meet the expected solid increase in holiday sales,” Kleinhenz said.
Business lines showed uneven gains again in November, with online and other non-store sellers seeing the highest increase followed by personal care, furniture and home furnishings. Electronics, clothing and clothing accessories saw decreases in November.