Retail Jobs Miami, Nationwide Continue Positive Growth
The number of retail jobs Miami and the rest of the nation has to offer are being supported by a continuing increase in retail sales.
The National Retail Federation found that retail industry sales increased by .6 percent between February and March and by 3.9 percent when compared to this time last year. That increase marks the ninth consecutive month of retail sales growth.
Nearly every retail industry benefited from the increase in consumer spending, but the furniture industry saw the biggest immediate growth, as sales increased by 3.6 percent between February and March and by 3.8 percent over the year.
"Shoppers last month were eager to take advantage of retailers' spring promotions on everything from apparel to outdoor furniture," Matthew Shay, president and CEO of the National Retail Federation, said in a statement. "While current indicators point to a more confident consumer, increasing gas prices and a cramped job market could hamper consumer spending during the upcoming summer months, a key time of year for retailers."
According to the U.S. Department of Commerce, the following industries saw retail sales increases:
- Furniture and home furnishing stores - 3.6 percent monthly/3.8 percent yearly
- Building material, garden equipment, and supplies dealers - 2.2 percent monthly/5.5 percent yearly
- Electronics and appliance stores - 2.1 percent monthly/3.6 percent yearly
- Health and personal care stores - .7 percent monthly/5.1 percent yearly
- Clothing and clothing accessory stores - .6 percent monthly/3.4 percent yearly
- Grocery stores - .3 percent monthly/4.1 percent yearly
"Improving financial situations including the temporary payroll tax cut, wage gains and a strengthening labor market likely supported March spending gains," NRF Chief Economist Jack Kleinhenz said. "If gasoline prices can stabilize over the next few months, consumer spending may continue to grow, but it remains to be seen what consumers will cut out of their budgets because of the cost of filling up their tank."