Retail In The Up

Filed Under: Business Blitz

Could the bad economy slowly be improving?

Well if retail employment this year is any indication, it seems it might be.

This year, department stores have added more jobs and increased salaries in order to prepare for the shopping season.

According to reports, department stores have added around 7,500 jobs which will help balance out the over 12,000 jobs they cut back in Octoboer.

The new job positions will help employ over 1.5 million people!

Specialty stores have also added about 900 jobs to employ 1.41 million people.

A chief U.S. economist for IHS Global Insight reveals:

“It is mostly genuine good news. The report says that we are nearer the bottom in the labor market than we thought. We are not yet convinced that employment has troughed, nor that the unemployment rate has peaked, but we can now be more confident that even if the bottom is not quite here, it will be no later than the first quarter of 2010.”

Though many are skeptical of the good news as most retailers hire temporary workers for the Fall season.

Let's hope they keep most of those employees after the New Year.

And in the mean time, shop, shop, shop!

[Image via WENN.]

Posted: December 7, 2009 at 3:30 pm