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October retail employment hit a pre-pandemic low
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October retail employment hit a pre-pandemic low

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Although seasonal employment announcements for retail and transportation reached their highest levels in 2021, actual hiring for both sectors in October fell to their pre-pandemic lows, according to a Nov. 7 report from Challenger, Gray & Christmas , Inc.

Based on non-seasonally adjusted data from the Bureau of Labor Statistics, the firm reported that retailers added 124,700 jobs, marking the lowest October total since 2018. Transportation and warehousing added 61,300 jobs. work, or the lowest number since 2019.

“Certainly the impact of two hurricanes in October prevented seasonal hiring from happening,” said Andrew Challenger, the company’s senior vice president. “Reconstruction efforts in the south and southeast may continue into November, affecting both the demand and availability of workers in those areas.”

Although employers announced plans to hire 659,850 seasonal workers, Challenger predicted that actual seasonal retail job gains would fall below the 2023 total of 564,200. Overall, retailers are likely to add about 520,000 new jobs, the company said. That will slightly exceed the 509,300 jobs added in the final quarter of 2022, but will mark the second-lowest total since 2009.

Total nonfarm payrolls rose by only 12,000 jobs in October, but economists have warned against panic and remained optimistic, citing temporary disruptions such as hurricanes and strikes. Overall, the market is still tipped for a “soft landing” for the rest of 2024, they said.

Job seekers are showing increased interest in seasonal part-time work in 2024, especially in retail, according to an iCIMS report. Many candidates want a part-time role, with nearly three-quarters saying they would prefer it over a full-time seasonal job.