Chelmsford, Mass. -- A report released Tuesday by Kronos said that the retail hiring levels have reached the highest mark in nearly three years. The Kronos Retail Labor Index, which characterizes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 3.9% in September, reflecting a strong gain in hires and a modest decline in applications, all on a seasonally adjusted basis. (A level of 3.0% means that for every 100 applications received, three hires occurred).
“Underlying the increase in the Index was a strong gain in retail hiring, which posted a 12.6% increase from August to September, to 38,252 hires, the highest level in nearly three years,” said Chris Varvares, senior managing director and co-founder, Macroeconomic Advisers.
“The recent sharp uptick in hiring, coupled with a rise in monthly applications since earlier this year, suggests that retail labor market activity is picking up," he added.