Retail Snapshot

Comparing hiring in retail from the first two quarters of 2023 to the first quarters of 2024, growth was a bit subdued. For the first half of 2023, the industry added just under 100,000 new jobs while in 2024 that figure stood at 82,700. Retail sales data has been flat over the past few months as consumers’ demand fades with fewer dollars in their pockets. As we approach the seasonal hiring period, consumer spending habits will be the most important driving factor for the industry. 

Within the retail subsectors, general merchandise stores continue to outpace the other industries, adding a robust 20,000 jobs over a three-month period. Since June of 2023, the industry’s total employment is up 1.1%. Food and beverage stores continue to chug along, adding just under 6,000 new jobs, increasing 0.9% from the year prior. Personal care and home furnishing stores have struggled for several months now, with the former adding just 1,900 jobs over a three-month period and the latter losing 1,700. Both subsectors have shrunk since last year, with health and personal care stores down -0.1% and furniture stores down a significant –3.3%.