In its annual holiday sales and employment forecast, NRF predicted that retailers would see a 3.9 percent increase in sales, and hire an additional 720,000 to 780,000 employees this holiday season.
Speaking on the October jobs report, NRF President and CEO Matthew Shay said, “The latest jobs report, which came in stronger than anticipated, provides some positive indication that the economy and employment situation are steadily improving,”
“The timing couldn’t be better for retailers and consumers, who are busy preparing for the holiday shopping season.”
“It is now incumbent upon policymakers to address our pending fiscal and budgetary questions sooner rather than later. We cannot afford to repeat the same mistakes, which led us to a government shutdown and to the brink of default.”
“Today’s report puts the U.S. economy in a very positive light heading into the fall and winter seasons,” Chief Economist Jack Kleinhenz said. “The government shutdown had little to no impact on the improving employment situation, which is steadily improving along with GDP. While retailers and businesses are hiring, consumers remain cautious, but we remain steadfast in our belief that consumer confidence and spending will improve.”
The Bureau of Labor Statistics Employment Situation report showed that the economy added 204,000 jobs in October. Unemployment was calculated at 7.3 percent.
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy.
National Retail Federation
Textiles | On 28th Mar 2017
The Government of India is likely to impose anti-dumping duty on...
Apparel/Garments | On 28th Mar 2017
The Competition Commission (CCI) of India has approved the proposal...
Transparent supply chain and fair trade will boost sustainable market
Balavigna Weaving Mills Pvt Ltd
The biggest challenge that the weaving industry faces is high price
Bridalwear is not about reds and whites anymore
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
The Indian market has huge potential in technical textiles, and by far,...
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...
"We should not compare India and the West. There are things we do that...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Apparel/Garments | On 27th Mar 2017