Though seasonal hiring bulletins for retail and transportation reached the best ranges since 2021, precise job additions for each sectors in October dropped to the bottom level since earlier than the pandemic, in keeping with a Nov. 7 report from Challenger, Grey & Christmas, Inc.
Based mostly on nonseasonally adjusted knowledge from the Bureau of Labor Statistics, the agency reported that retailers added 124,700 jobs, marking the bottom October whole since 2018. Transportation and warehousing added 61,300 jobs, or the bottom quantity since 2019.
“Definitely, the impression of two hurricanes in October stored some seasonal hiring from occurring,” Andrew Challenger, the agency’s senior vice chairman, mentioned in an announcement. “Rebuilding efforts within the South and Southeast could proceed into November, doubtlessly affecting each the demand for and availability of employees in these areas.”
Though employers introduced plans to rent 659,850 seasonal employees, Challenger predicted that precise seasonal job features for retail will fall under the 2023 whole of 564,200. Total, retailers will probably add about 520,000 new jobs, the agency mentioned. This may barely surpass the 509,300 jobs added within the last quarter of 2022, however mark the second-lowest whole since 2009.
Whole nonfarm payroll solely rose by 12,000 jobs in October, however economists cautioned in opposition to panic and remained optimistic, citing short-term disruptions resembling hurricanes and strikes. Usually, the market continues to be angled for a “delicate touchdown” for the remainder of 2024, they mentioned.
Job seekers are exhibiting elevated curiosity in part-time seasonal work in 2024, particularly in retail, in keeping with an iCIMS report. Many job candidates desire a part-time function, with practically three-quarters saying they’d desire it over full-time seasonal work.
