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Retail employment rises 3.5% in second quarter of 2010
Sector creates 22K new jobs
New research from the British Retail Consortium and business law firm Bond Pearce shows that retail employment rose by 3.6% in the second quarter of 2010 compared to the same period a year ago. The BRC said the net increase of 22,055 jobs was driven by a 3% rise in the number of stores during the period – 486 new outlets opened.
The data also revealed that the sector continued to create employment in June. Employee numbers were up 3.0% year-on-year, while store numbers rose by 3.1%.
Compared with intentions this time last year, the BRC-Bond Pearce Retail Employment Monitor (REM) suggests that retailers feel more confident about maintaining and increasing levels of employment. 58% intend to maintain staffing levels in the coming three months, while one in three intend to increase employment. Only 8% said they intend to cut staffing levels.
Stephen Robertson, British Retail Consortium Director General, said it was a “remarkable achievement” that, in the face of economic uncertainty, retailers have created 22,000 jobs and added nearly 500 stores since this time last year. "Consumer spending has been surprisingly resilient over the year and, generally, retail sales have remained robust. With unemployment at 2.5 million and with significant public sector cuts to come, it is encouraging that retail is actively creating jobs.”
“With retailers representing 8% of GDP and 11% of the total UK workforce, these are encouraging results for the overall economy,” commented Christina Tolvas-Vincent, Head of Retail Employment at Bond Pearce. “During the worst recession for two generations retailers have kept their eye on the long game, as demonstrated by their continued investment in staff and stores.
“The retail sector is often seen as a barometer for business confidence at large and such solid growth, in extremely difficult conditions, is a positive indicator that we are moving in the right direction. However, we are not out of the woods yet; with the effect of public sector cuts and the increase in VAT still to come, there are challenges ahead and the next six months will be critical for the sector.”
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