Hardware Retailing The Industry's Source for Insights and Information
Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today.
The National Retail Federation calculated month-to-month retail employment increased 18,200 in March and 229,000 year-over-year. The increase is consistent with recent positive economic indicator reports and bodes well for income and consumer confidence as the industry enters into the busy spring selling season.
“After a long, harsh winter that put many retailers at a disadvantage in terms of inventory control and staffing their stores, merchants are eager to move forward with their spring hiring and operational plans,” NRF President and CEO Matthew Shay said.
Employment grew in professional and business services, in health care, and in mining and logging.
“We’re encouraged by the progression seen in March related to hiring and other indicators that point to overall economic growth,” Jack Kleinhenz said. “First quarter results have been less than stellar thus far thanks to a variety of factors, including unusually bad weather in almost every part of the country. As the year progresses, I expect the job market to strengthen, which will put consumers in a position to feel even more confident about spending, bolstering the sub-par economic recovery.”
