The retail industry in the US has witnessed a rise in employment opportunities in July this year as compared to the same month last year. Automobile dealers, gasoline stations, and restaurants jobs have been excluded while calculating.
During the period under review, the retail industry reported 66,000 more jobs unadjusted over the same time last year. Particularly, general merchandise stores, which were up by 14,000 jobs, clothing and clothing accessory stores, created 10,000 jobs additional jobs in the reporting period, as revealed by the National Retail Federation (NRF), world’s largest retail trade organisation headquartered at Washington D.C., USA citing the labour department data.
The retail industry reported average 7 cents increase in hourly earnings to US $ 27.05 as compared to June while it increased 2.7 per cent as compared to the same period last year. The nationwide unemployment rate stood 3.9 per cent as compared to 4 per cent in June.
This is however, not the exact picture of the industry as Labor Department does not include retail workers in other parts of the business such as corporate headquarters, distribution centers, call centers, and innovation labs.
“While today’s jobs release may appear disappointing after a string of monthly gains, the economy remains fundamentally strong,” NRF Chief Economist Jack Kleinhenz said.
