Retail hiring weak in June
Thursday, July 05, 2012 Consumer Products & Services
According to one recent index, the number of people applying for jobs in retail and the pace of hiring slowed during June.
The Kronos Retail Labor Index showed a score of 4.2 percent, higher than the rate seen last month, meaning that there were fewer applicants and less employment opportunities. The study, prepared by Macroeconmic Advisers, also showed that the total seen during June - 33,473 people hired - was the lowest it had been since October 2011.
"This reflects not only reduced competition as the level of applications has fallen significantly over the last year but also some firming in hiring," said Chris Varvares, senior managing director of Macroecomic Advisers. "Even with the drop in June, hiring remains solid compared to last year, up 7.7 percent year-to-date. Overall, we view the recent readings on hires and applications in the Kronos sample as consistent with other labor market data, which point to a still gradual recovery in the retail labor market."
A large segment of the population continues to take home a paycheck from the retail sector. One of the biggest employers in that field, Walmart, announced plans to open a new store in Encintas, California, needing 250 new workers.
Content provided by executive search organization, MRINetwork.