The Retail Industry Makes A Rebound After March
Press Release: – The National Retail Federation today issued the following statement from NRF President and CEO Matthew Shay and NRF Chief Economist Jack Kleinhenz on the April employment numbers:
“The retail industry – the largest private sector employer – rebounded from a dismal March and added 29,000 jobs in April, indicating that retailers remain cautious but are seeing signs of an improving economy, and as a result, added to their payrolls heading into the summer,” said NRF President and CEO Matthew Shay. “While the overall impact of the payroll tax increase and sequester remain a significant concern, unease over taxes and spending and the upcoming debate on the debt ceiling in Congress may once again stymie business investment and consumer spending,” said Shay.
“Finally some reassuring news on jobs and the economy,” said NRF Chief Economist Jack Kleinhenz. “Today’s solid employment news combined with positive March revisions may bode well for the broader economy and portend steady retail sales in April. Retailers are continuing to find innovative ways to engage shoppers with the right mix of products, inventory and employment to meet their customers’ demands. With the significant decrease in jobless claims – at the lowest level since the recession – and an uptick in personal discretionary spending and consumer confidence, today’s news is very promising. We are encouraged by the resilient economy and consumer.”
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities at home and abroad, and the critical role that retail plays in driving innovation.
For more information visit www.nrf.com