Retail Is on the Rise

Has Spring sprung in retail? After a gloomy two years, fourth quarter sales were up and the good times continued through February 2010. Now comes a report that retailers are hiring again…a sure sign of strength.

The U.S. jobs picture in February was slightly better than expected, a sign that the employment outlook may be stabilizing. Apparel retailers increased staffing levels in February for the second month in a row, hiring 7,200 workers, the Labor Department said today.

Department stores hired 6,200 to employ 1.48 million. Specialty store retailers expanded payrolls by 1,000 to 1.37 million. In January apparel stores added 23,600 jobs.

In the broader economy employers cut 36,000 jobs, fewer than analysts expected, and the unemployment rate was unchanged at 9.7%. In the manufacturing sector textile mills that produce apparel fabric added 2,300 jobs to employ 123,700. Textile product mills that manufacture home furnishing fabric added 400 jobs to employ 122,200. Apparel manufacturers eliminated 700 jobs to employ 168,400.