US retail industry jobs grew by 18,600 in Nov 2018

The retail numbers excluded automobile dealers, gasoline stations and restaurants.

November’s retail job numbers followed a revised loss of 9,100 jobs in October from September. The three-month moving average as of November showed a loss of 6,700 jobs. Unemployment for all of retail was 4.2 per cent, which combined with October’s 4.1 per cent made it the lowest two-month average since the Great Recession, said a press release from NRF.

November saw monthly gains of 39,300 jobs at general merchandise stores, which include department stores and warehouse clubs. The number alone accounted for a quarter of job gains seen economy-wide in November. Jobs increased by 9,800 at miscellaneous stores; 2,900 at food and beverage stores and 2,100 in non-store which includes online. There were losses of 11,100 jobs at sporting goods and hobby stores and 10,900 at electronics and appliances stores.

Economy-wide, average hourly earnings in November were up 6 cents over October to $27.35 and up 81 cents from a year ago, a year-over-year increase of 3.1 per cent. The department of labour said the overall unemployment remained at 3.7 per cent, its lowest level since December 1969.

“These are satisfying numbers that indicate the economy continues its momentum of growth,” said NRF chief economist Jack Kleinhenz. “The gains have come despite events ranging from wildfires in some parts of the country to snowstorms in other areas that likely kept the growth from being even larger. In retail, the tight labour market has created sizable challenges in hiring – there are actually more retail jobs available than there are people to fill them. Retailers would hire more workers if they could find them.”

“It’s significant that retail accounts for roughly one out of eight jobs created across the economy in November, which shows the importance of retail to job creation,” Kleinhenz added. “And general merchandise – which includes department stores – accounted for a quarter of the nation’s job gains.”

The retail job numbers reported by the labour department do not provide an accurate picture of the industry because they count only employees who work in stores while excluding retail workers in other parts of the business such as corporate headquarters, distribution centers, call centers and innovation labs, Kleinhenz concluded. (PC)

ALCHEMPro News Desk – India