Retailers helped boost employment gains over the 2013 holiday season. More specifically, retail-industry job gains posted at 49,200 over November and 328,600 year-over-year, according to the National Retail Federation.
“The nation’s retailers continued to add to their payrolls in December even in the midst of the condensed holiday shopping season,” said NRF president and CEO Matthew Shay. “Retailers and merchants—especially those operating clothing and general-merchandise stores—increased hiring, which may indicate a solid holiday sales season.”
According to the Bureau of Labor Statistics Employment Situation report, December total nonfarm payroll employment rose by 74,000, with the unemployment rate at 6.7% and the labor force participation rate at 62.8%.
“While the employment gains were much lower than anticipated, gains were made and the economy seems primed for growth,” said NRF chief economist Jack Kleinhenz. “The shortened holiday calendar and severe weather in many parts of the country certainly impacted these figures, but I suspect we will see upward revisions in the coming months.”
[Image courtesy of the National Retail Federation]