Washington, D.C. - The National Retail Federation (NRF) calculated retail industry employment gains (excluding autos and gasoline) of 27,800 jobs in June 2014, compared to the prior month and 230,800 year-over-year. The U.S. Bureau of Labor Statistics Employment Situation Summary showed that total nonfarm payroll employment rose by 288,000 in June, better than analysts' and economists' expectations.
The unemployment rate dropped to 6.1% as a result, while the civilian labor participation rate remained unchanged at 62.8%.
"Details in the national jobs report were uniformly positive and showed that the labor market continues to provide more muscle to a growing economy," said NRF chief economist Jack Kleinhenz. "It should be noted that this is the strongest three-month trend since early 2012. The momentum in the labor market and retail job growth will translate into stronger expectations for the second half of 2014. This report sets the stage for job gains as we head into the busier retail season."