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After getting off to its strongest start in 14 years, the pace of holiday hiring in November slipped below last year’s level, suggesting that retailers may be reining in expectations for a bountiful Christmas selling season.
Retail employment expanded by 471,000 in November, which is down 4.7 percent from a year ago, when retailers hired a record 494,400 workers, according to an analysis of the Bureau of Labor Statistics’ non-seasonally adjusted employment data by global outplacement firm Challenger, Gray & Christmas, Inc.
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Holiday hiring got off to its strongest start in 14 years, as retail employment grew by 159,500* in October, according to an analysis of the latest Bureau of Labor Statistics data by global outplacement firm Challenger, Gray & Christmas, Inc.
The 159,500 net new jobs in retail last month marks a 6.7 percent increase from October 2012, when retailers increased their payrolls by 149,400. It was the most new hires in the first month of the annual holiday hiring period since 1999, when retail employment expanded by 172,200 in October.
The strong start bodes well for a holiday hiring season that stretches from October through December, with the heaviest retail workforce additions, typically occurring in November. Last year, the three-month hiring period resulted in 751,800 new jobs being added by retailers; the most since 2000, when retailers added 788,200 workers during the final three months of the year.
Last year’s holiday hiring binge brought retail employment in the sector to 15,538,300 in December, the month in which retail employment generally reaches its annual peak. That was the highest number of retail workers in December, since 2007, when employment reached 16,156,400.
Turnover among the nation’s chief executive officers declined slightly in October as 104 planned CEO departures were reported, down 2.8 percent from the 107 in September, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
The October total was down 3.7 percent from the same month a year ago when 108 were recorded. Challenger has now tracked 1,053 CEO changes so far this year, 5.3 percent more than the 999 departures announced in the first ten months of 2012.
Due to continued changes in the health care landscape, this sector led all industries in October with 29 CEO departures, 25 of which came from hospitals and hospital systems. Of those CEOs, nine went on to serve as high-level executives of other hospitals, usually as CEO. To date, the health care sector has now seen 224 CEO departures in 2013, which is the highest turnover among all sectors tracked by Challenger. Continue reading
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