Kronos Retail Labor Index indicates hiring recovery

Chelmsford, Mass. -- Monthly hires in the retail industry remain well above the lows reached during the recession and suggest retail hiring is continuing to improve following sharp declines in 2008 and 2009, according to the January Kronos Retail Labor Index.



The Index dipped to 3.5% in December, reflecting a 7.6% drop in hires made. (The January report includes data for December 2011. The analysis and write-up is prepared by Macroeconomic Advisers LLC).



“The December decline in hires followed a strong 8.0% increase in hires in November, which could indicate retailers made hiring decisions earlier in the year in anticipation of increased traffic and stronger holiday sales,” said ” Chris Varvares, senior managing director and co-founder, Macroeconomic Advisers.



On average, retailers in the Kronos sample made nearly 34,000 hires in November and December, broadly consistent with the number of hires made over the previous six months.



“This suggests retail hiring has stabilized following sharp declines during the recession,” Varvares said. “However, retail hiring in this sample remains far below pre-recession levels, when firms made roughly 55,000 hires per month.”