Employment up by 10,000 at US clothing stores in July

Overall, the US businesses added 157,000 jobs in July over June, the labour department said. Economy-wide, average hourly earnings in July were up 7 cents over June to $27.05, a year-over-year increase of 2.7 per cent. Unemployment rate was 3.9 per cent, down from 4 per cent in June.

The figures also showed a slight dip in the retail industry unemployment, from 4.5 per cent to 4.4 per cent, which underscores the current reports surrounding a tight job market within the retail industry.

“In the past, summer months tend to show large employment fluctuations due to the timing of seasonal hiring. However, consumer and business optimism remain elevated and paints a positive picture as we head into the third quarter,” NRF chief economist Jack Kleinhenz said.

The retail job numbers reported by the labour department do not provide an accurate picture of the industry because they count only employees who work in stores while excluding retail workers in other parts of the business such as corporate headquarters, distribution centres, call centres and innovation labs, Kleinhenz noted. (RKS)

Fibre2Fashion News Desk – India