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current news

Unemployment in Retail & Manufacturing


(Filed Under Fashion News). Despite word from the government that the recession is lifting, unemployment numbers continued to grow this September according to a report released by the United States Department of Labor on October 2nd. Overall unemployment rose to 9.8 percent from 9.7 percent in August, with the retail and manufacturing sectors experiencing the largest job losses, (39 and 51 percent, respectively), along with the government sector. But despite the job losses, unemployment rates did show some signs of slowing.

The retail trade sector cut 39,000 jobs last month. From April through September, retail employment has fallen by an average of 29,000 per month compared with an average monthly loss of 68,000 during the prior six months. Since the beginning of the recession, retail trade has lost 868,000 jobs.

Employment in manufacturing fell by 51,000 with non-durable goods manufacturing jobs—which include those in apparel and textile—down by 8,000. Employment in manufacturing has contracted by 2.1 million since the beginning of the recession.

According to a New York Times article dated October 2nd, 2009, many economic reports have predicted a flat holiday season this year compared to last year, indicating that, while it is not improving, the economy is not getting any worse. The retail industry cited an overall sales decline of approximately 2 percent last Christmas season, the weakest performance since the late 1960’s, the Times said.


more Fashion News >>

Published 10-05-2009 by Amanda Torres Price



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