Retail Hiring, Applications Plummet
Job seekers don't appear to be pursuing work in the retail sector, according to Chelmsford-based Kronos Inc.'s June Retail Labor Index.
Job applications to retail employers representing more than 18,000 store locations in the U.S. fell 11.1 percent in June to 797,852. That's down more than 150,000 from June 2011, Kronos said.
Hiring also fell. Kronos' pool of retailers hired 33,473 workers in June, the lowest reading since October 2011.
The Kronos Labor Index, which measures the ratio of hires to applications expressed as a percentage, rose from 4.1 percent to 4.2 percent. Kronos said the June reading reflected "sharp declines" in both applications and hiring.
Chris Varvares, senior managing director and co-founder of Macroeconomic Advisers, said in a Kronos announcement that hiring conditions so far this year are more favorable for those seeking employment compared to last year. Despite June's drops, he said data point to a "gradual recovery" in the retail labor market.
"Even with the drop in hiring in June, hiring remains solid compared to last year, up 7.7 percent year to date," Varvares said.
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