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Retail Adds 28,000 New Jobs In June
Written by Tim Morral
Department of Labor statistics show that the retail industry made strong gains despite no change in the nation's overall unemployment rate.
The retail sector plays an important role in the U.S. economy. When stores are booming, it's often an indicator of a solid national economy--and vice versa.
Recently, the U.S. Department of Labor released its June employment report from the Bureau of Labor Statistics, showing robust hiring gains in retail. While the American economy added 195,000 jobs in June, 37,000 of those jobs came from the retail sector.
With the U.S. unemployment rate unchanged at 7.6 percent, strong retail hiring may be a sign that Americans are spending, rather than saving, a larger portion of their disposable income. In June, retail hiring improved across all categories except for furniture/home furnishings and health/personal care stores.
"Today's strong jobs report is welcomed news for the economy and may signal positive and accelerated momentum for the second half of 2013," National Retail Federation Chief Economist Jack Kleinhenz said. "Payrolls came in stronger than expected, including in the retail industry, which witnessed strong gains in building supplies, clothing and sporting goods. The economy is currently stable but traction and pace remain uncertain."
The process of finding good employees is just one of the hiring challenges retailers face in today's economy. For retail employers, knowing when it's the right time to increase staff levels is just as important as the quality of the people they hire. Based on June's job numbers, many retailers seem to think that the time to hire is now.
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