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Economy

Retail Employment Increased 8,000 in May

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The economy is expanding and will see stronger growth for the balance of the year.
Jack Kleinhenz

The National Retail Federation calculated retail industry employment gains (excluding autos and gasoline) of 8,000 jobs in May and 237,000 year-over-year. The increase was supported by upward revisions in April, which NRF calculated at an additional 8,000 jobs.

“The economy is expanding and will see stronger growth for the balance of the year. The combination of April's revision and May's increase remains consistent with national gains and expectations for general growth the remainder of the year. Steady job growth in the private sector has worked to lift total nonfarm payrolls above pre-recession levels.”

The U.S. Bureau of Labor Statistics Employment Situation Summary showed that total nonfarm payroll employment rose by 217,000 in May, in line with analysts' and economists' expectations. The unemployment rate remained unchanged at 6.3 percent and the civilian labor participation rate remained unchanged at 62.8 percent.

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