Market Overview

Retail and Food Service Sales Edge Up in Commerce Report, Reflecting Jobs Data on Granted.com

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Sales in retail and food services rose .1 percent over the previous month, based on the latest figures released by the Commerce Department. Strong sales spurred job growth in these sectors, as indicated by the number of openings on Granted.com.

Pasadena, CA (PRWEB) February 14, 2013

Retail and food services sales grew .1 percent in January, based on the report released Wednesday by the Commerce Department. The sector's expansion mirrored current hiring trends on Granted.com.

Sales in retail and food services rose in January, according to the latest data released by the Commerce Department. Total sales were $416.6 billion last month, a .1 percent increase over December's numbers and a 4.4 percent increase from January 2012. The slight growth was a positive sign, especially as expiration of the payroll tax cuts and tax increases on the wealthy kicked in simultaneously, resulting in a decrease in disposable income. Most economists agree that dining out is typically one of the first areas impacted when individuals are looking to make cuts in their monthly budgets. The fact that sales in food services not only held steady, but actually rose, is a sign that consumers were undeterred.

January's data reflected employment trends on Granted.com, a leading job site. As of the time that this release was written, the site listed 262,105 jobs in retail and 55,413 jobs in food services. Retail growth has been particularly strong over the last few months, representing nearly 10 percent of the openings currently on the site. Across the board, the greatest demand in retail was for managerial-level positions, with 65,102 openings for retail managers currently available. The fact that hiring has been strong in retail and food services points to employers' confidence that growth will continue in these sectors.

“The job market is not where it should be, by any means. But the fact that job growth is occurring at a modest rate helped mitigate some of the negative impact of the higher payroll taxes,” said Harrison Barnes, CEO of Granted.com. “Growth in retail and food services has helped spur job creation in those sectors, and we are hopeful that these trends will hold steady in the coming months.”

About Granted

Granted.com is a job search site based in Pasadena, CA. It is a part of the Employment Research Institute and owned by A. Harrison Barnes.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/2/prweb10432888.htm

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