Connect with us

Headlines

Retail Employment Stagnant in December

Though sector’s overall jobs increased by 17,000, department stores shed 13,000 posts

mm

Published

on

Department stores cut 13,000 positions in December. PHOTOGRAPHY: Andrea Astes

While December is one of retail’s busiest months, employment in the sector was flat during that period in 2023, just-released numbers from the U.S. Bureau of Labor Statistics show. Specifically,  retail trade employment changed little in December, rising by just 17,000 jobs.

That total included a rise of 14,000 jobs at warehouse clubs, supercenters, and other general merchandise retailers; 8000 new jobs at building material and garden equipment and supplies dealers; and 4000 at automotive parts, accessories and tire retailers.

However, those gains were offset by a job loss in department stores of 13,000 positions.

“Retail trade employment has shown little change, on net, since recovering in early 2022 from pandemic-related losses,” the report notes.

Overall, total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent. Those numbers are a continuation of robust job-creation and a low unemployment rate that has many observers believing that the U.S. economy may well be headed for a “soft-landing,” which is a moderate slowdown in economic growth with controlled reduction in inflation following a period of growth.

Advertisement

Advertisement

FEATURED VIDEO

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

Promoted Headlines

Most Popular