The National Retail Federation pegged retail job gains at 37,000 in July, with increases in general merchandise, food and beverage and building and garden supply stores. The Bureau of Labor Statistics, meanwhile, reported that the economy added 162,000 jobs in July.
“In spite of continued rancor and uncertainty from policymakers in Washington, the private sector economy continues to add jobs,” NRF President and CEO Matthew Shay said. “While unemployment remains stubbornly high, with millions of Americans jobless or underemployed, retailers are adding to their ranks and payrolls.”
“Contrary to the record increases on Wall Street, employment continues to be a lagging indicator of the recovering economy,” NRF Chief Economist Jack Kleinhenz said. “Despite the underwhelming and discouraging job gains in July, NRF expects the economy to pick-up in the third and fourth quarters. The employment trend is positive yet lackluster.”