Home / Knowledge / News / Apparel/Garments / US retail employment down 6,700 in Feb - NRF
US retail employment down 6,700 in Feb - NRF
08
Mar '14
In response to the February jobs report, The National Retail Federation (NRF) President and CEO Matthew Shay said, “While there are signs of modest momentum in the economy, now is not the time to play partisan politics with the recovery by forcing federal mandates on retailers and small business owners like an increase in the minimum wage.”
 
Matthew Shay said. “Such policy decisions could hamper economic growth and actually drive up the unemployment rate.”
 
NRF calculated retail employment down 6,700 in February yet up 205,500 year-over-year. The biggest job losses were seen in electronics and appliance stores, and sporting goods, hobby, book and music stores. December and January retail employment figures were also revised downward.
 
“Retailers continued to rearrange and maximize their payrolls and inventories following the holiday shopping season,” Economist Jack Kleinhenz said. “This decline should be temporary in nature and viewed as a speed bump. We really need to lift the snow screen to adequately measure the economy and jobs situation.
 
“We remain optimistic for continued economic and employment gains this year and are encouraged by the growth in construction jobs and building material employment last month, which suggests a forthcoming improvement in residential and nonresidential spending along with household and business confidence.”
 
The Bureau of Labor Statistics Employment Situation Summary showed that February total nonfarm payroll employment rose by 175,000 with the unemployment rate at 6.7 percent and the labor force participation rate at 63.0 percent.
 
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting 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. 
 

The National Retail Federation

Must ReadView All

Apparel/Garments | On 24th Aug 2016

Myanmar & South Korea JV to set up 500-acre garment facility

Myanmar based Olympus Asia Group and South Korea’s Panko Corporation...

Apparel/Garments | On 24th Aug 2016

Clothing maintains leadership among products sold online

“Clothing has maintained its leadership among products sold online...

Textiles | On 24th Aug 2016

Intertextile Shanghai Home Textiles begins Aug 24

Intertextile Shanghai Home Textiles – Autumn Edition begins August...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search