“Over the next 60 days NRF is aggressively urging the supercommittee to seriously consider reform of the corporate tax system, passage of the Main Street Fairness Act and elimination the employer mandate as ways to bring the deficit down and deliver more certainty to America's job creators,” said Shay. “We'll be activating retailers from every corner of the country throughout this campaign, ensuring that they weigh in with policymakers on the importance of getting these issues done.”
New Research Underscores Retail's Jobs and Economic Impact
At the foundation of NRF's “Retail Means Jobs” campaign is the PwC study, which found that retail (including food services and drinking places) directly and indirectly accounted for 41.6 million full-time and part-time jobs, or 24 percent of U.S. jobs; 17 percent of labor income at $1.49 trillion; and 18 percent of GDP at $2.48 trillion in 2009.
Retail directly provided 28.1 million full-time and part-time jobs in 2009, making it the largest private sector employer in the nation, dwarfing the 18.8 million jobs in health care and social assistance, 12.4 million in manufacturing and 11.8 million in professional, scientific and technical services, according to the report. Each of the other major segments of the U.S. economy provides less than 10 million jobs.
While previous reports have tallied basic government data on retail employment and consumer spending, the new PwC study details how retail contributes to the economy from a national perspective, and also provides detailed data on retail's economic impact at the state level and in each congressional district.
“This campaign represents a major step forward in the retail industry's efforts to have a voice that is commensurate with our massive role in the nation's economic and employment picture,” said Shay, who has reorganized the 100-year-old trade association with a new emphasis on advocacy, communication and education. “On issues of jobs, innovation and economic competitiveness, the voice of retail matters a great deal – and over the coming months it will be heard loud and clear.”
As the world's largest retail trade association and the voice of retail worldwide, NRF's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the United States and more than 45 countries abroad.
In the United States, NRF represents an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs – one in four U.S. jobs. The total U.S. GDP impact of retail is $2.5 trillion annually, and retail is a daily barometer of the health of the nation's economy.
National Retail Federation
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