Retail Industry Adds Jobs in June
July 11, 2016
Retail-industry employment grew by 29,500 jobs in June, according to the National Retail Federation (NRF).
The increase amounts to more than 10 percent of the total 287,000-job increase reported last week by the United States Labor Department.
While the monthly wage data saw an increase of only 2 cents per hour following the 6-cent increase in May, the better-than-expected job gains in June help alleviate some concern about the U.S. economy. Average hourly earnings moved in the right direction on a year-over-year basis with an increase of 2.6 percent, according to the NRF.
On a three-month moving average, retail jobs as calculated by NRF have increased by 9,700 positions. Since June 2015, the retail industry has increased payrolls by 241,600 jobs. — M.Q.