Dec 2, 2011

Jobs Report Signals Good News for Retail Workers and U.S. Economy

The jobs report today is a bit of surprising good news for Americans heading into the holiday season: the American unemployment rate dropped to its lowest level since 2008 in November.
The jobless rate fell to 8.6 percent, after having been stuck around 9 percent for most of 2011, the Labor Department said Friday. A separate survey of employers, which economists pay more attention to than the rate, also brought modestly good news: Companies added 120,000 jobs last month, after adding 100,000 jobs in October.
This may be partially based on hiring for the holiday season...and that brings us to the other piece of good news for retail workers today. As the Chicago Sun-Times reports:
Retailers reported strong sales gains in November, boosted by a discount-fueled buying binge for the start of the holiday shopping season last weekend. Now, the challenge is to keep shoppers spending throughout the most important selling period of the year. 
Some retailers, including Macy's, which employees thousands of UFCW workers across the country, reported sales gains that beat Wall Street estimates. That's good news for workers, and good news for the country's economy.

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