Friday, December 03, 2010

Seasonal Retail Hiring: Retailers remain cautious

by Calculated Risk on 12/03/2010 01:01:00 PM

According to the BLS employment report - and combining October and November - retailers hired seasonal workers at above the pace of last year, but well below the pre-crisis levels.

Seasonal Retail HiringClick on graph for larger image.

Typically retail companies start hiring for the holiday season in October, and really increase hiring in November. Here is a graph that shows the historical net retail jobs added for October, November and December by year (not seasonally adjusted).

This really shows the collapse in retail hiring in 2008 and modest rebound in 2009.

Retailers hired 433 thousand workers (NSA) net in October and November. This is above the 367 hired last year in October and November, but well below the pre-crisis average of close to 550 thousand for the same two months.

Note: this is NSA (Not Seasonally Adjusted), retailers employed 28 thousand fewer workers in November than October seasonally adjusted.

This suggests retailers are still cautious about the holiday season.

Earlier employment posts:
November Employment Report: 39,000 Jobs, 9.8% Unemployment Rate
Employment Summary and Part Time Workers, Unemployed over 26 Weeks
Graphics Gallery for Employment