News

NRF comments on September job numbers

October 6, 2011

Following the announcement that U.S. employers added 103,000 jobs in September and that the unemployment rate remained unchanged at 9.1 percent, National Retail Federation President and CEO Matthew Shay issued the following statement:

"While the September jobs numbers were better than expected, there is no doubt the economy is still facing significant headwinds. With the start of the holiday season just three weeks away, the persistently high unemployment rate is expected to hinder consumer demand and impact confidence."

Retailers will ramp up hiring over the next several weeks as they prepare for increased sales and traffic in their stores this holiday season. According to NRF, retailers are expected to add 480,000-500,000 seasonal positions over the next several months.

"As we look ahead to a holiday season that will send $466 billion into the U.S. economy – a higher number than the estimated $447 billion cost of President Obama's jobs bill – it is important to remember what a powerhouse the retail industry is. Over the next several months, the retail sector is expected to add up to 500,000 seasonal jobs, which will provide an important injection into the economy that will bolster families' income and help spur economic growth.

"As one of the largest employers in the country which supports 42 million American jobs, retailers will continue to advocate for policies that will help them add to their expansive workforce: passing the free trade agreements, visa reform, and corporate tax reform."

As the world's largest retail trade association and the voice of retail worldwide, NRF's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the United States and more than 45 countries abroad. In the United States, NRF represents an industry that includes more than 3.6 million establishments and which directly and indirectly accounts for 42 million jobs – one in four U.S. jobs.