Figures from the British Retail Consortium's (BRC) Retail Employment Monitor (REM) indicate that the sector has been very quick to turn a corner and start heading out of recession.
In the second quarter of 2010, retail full-time equivalent (FTE) employment was up by 3.6% compared with the same quarter a year earlier. This is equivalent to a net increase of 22,055 retail jobs. The increase in employment was driven by a 3.0% net annual increase in the number of stores in the second quarter – 486 additional retail outlets.
The latest data confirm the retail sector continued to create employment in June, the number of FTE employees up 3.0% year-on-year, while there was a net increase of 3.1% in store numbers.
The first quarterly BRC-Bond Pearce Retail Employment Monitor (REM) shows that 58% of retailers intend to maintain staffing levels in the coming three months, while one in three intends to increase employment. Only 8% of those surveyed intend to cut staffing levels in the next three months.
Compared with intentions this time last year, the Monitor suggests that retailers feel slightly more confident about maintaining and increasing levels of employment.
Following last week's good news about the construction industries this is very encouraging for the economy has a whole. Retail is at the cutting edge when it comes to feeling the peaks and troughs of consumer confidence and according to the BRC-Bond Pearce REM, the retail labour market outperformed all other sectors of the economy throughout the recession and continues to do so in the recovery.
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