Retail Industry Added 12,000 Jobs in August
September 8, 2016
The retail industry added 12,000 more jobs in August than July, according to a National Retail Federation (NRF) report.
The industry has added 222,300 jobs in the last calendar year, with an increase of 13,700 jobs on a three-month moving average. In total, 151,000 jobs were gained in the last month in all industries across the country.
“Today’s payroll data is solid for this late stage in the labor market cycle, though the gains are not as exciting as the past two months,” says NRF chief economist Jack Kleinhenz. “The payroll numbers do not clarify whether a liftoff of interest rates by the Federal Reserve is imminent. Nonetheless, more jobs mean more income and this is a preliminary positive indication for ongoing consumer spending.” — M.Q.