"While we are far from fully-recovered, we are seeing a more consistent picture of the market, which should support further economic and employment growth in 2014," according to NRF President and CEO Matthew Shay. "Today's solid jobs report is welcome news that the economy is continuing to shake off the recession and adding jobs. Retail continues to lead the jobs recovery with retailers and merchants bringing on thousands of additional workers to assist customers this holiday season.
"It is now up to policymakers and regulators to sustain the positive momentum and work to resolve our nation's looming fiscal and policy challenges, specifically the budget, debt ceiling, and the ongoing business and labor disruptions associated with the Affordable Care Act."
NRF calculated retail industry job gains at 13,500 from October, and 268,500 year-over-year.
"Employment is steadily improving month-by-month showing that the economy is primed for growth," NRF chief economist Jack Kleinhenz said. "While we are far from fully-recovered, we are seeing a more consistent picture of the market, which should support further economic and employment growth in 2014. The positive jobs report may put additional pressure on the Federal Reserve as they decide the fate of the taper."
The Bureau of Labor Statistics Employment Situation report showed that November total non-farm payroll employment rose by 203,000, with the unemployment rate at 7.0 percent.
Source: National Retail Federation
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