Dive Brief:
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February saw a boost of 24,000 new retail jobs, 218,000 more than February last year, according to a report by the National Retail Federation.
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Apparel, building materials, sporting goods, and home goods and furniture all had strong gains, according to the NRF.
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Overall, the economy added 295,000 jobs in February, well above expectations, according to the monthly report by the U.S. Department of Labor, sending the unemployment rate to just 5.5%.
Dive Insight:
Retailers did their part in boosting last month’s healthy employment report, despite the headwinds created in some parts of the country by severe weather and the remaining inventories stuck at West Coast ports.
Still, wages continue to be a soft spot that has some economists saying consumers could remain wary about spending. With Wal-Mart and TJX setting a new precedent for minimum wages last month, other retailers might feel pressured to follow suit.
