Report: Retail employment slumps most in a year

Washington, D.C. -- A report on Friday by the Labor Department showed that retail employment declined by 24,000 in March, the biggest slide since February 2012. The largest hiring slump occurred among clothing and accessories stores, which dropped 15,000, followed by a 10,000 decrease among building-material and garden suppliers.



Retailers have been slow to hire largely because of the concern over the 2% increase in payroll taxes and how the bump is impacting consumer spending.



The National Retail Federation previously forecasted that U.S. retail sales will increase 3.4% this year, compared to a 4.2% gain in 2012.