June brings retail employment boost
Retail jobs increased more than 50,000, compared to a year ago, which the National Retail Federation described as a "solid robust payroll increase."
The figure does not include auto sellers, restaurants or gas stations. Overall, U.S.-based businesses added 213,000 jobs over May, according to the Labor Department.
"This is another solid, robust payroll increase that nicely closes out the second quarter and affirms a very strong economy," NRF Chief Economist Jack Kleinhenz said in a press release. "It is consistent with how consumers feel about the economy and their personal finances. Nonetheless, while payroll gains should translate into increased spending in the coming months, if the trade war spreads it may become a turning point for consumer and business confidence that could affect spending."
Kleinhenz noted retail job numbers reported by the Labor Department count only employees who work in stores while excluding retail workers in other parts of the business such as corporate headquarters, distribution centers, call centers and innovation labs.
Topics: Financial News
Companies: National Retail Federation