More Jobs, Not Apparel
Retail added 30,000 more jobs in October—the biggest gain since early 2001. Nationwide, nonfarm employment grew by 126,000 in October, following a gain of 125,000 the month before, according to the U.S. Department of Labor. The two months represent the biggest consecutive growth in jobs since late 2000. All of this is good news to analysts, who point to the growth in the labor market as a harbinger of overall economic recovery. But within the apparel business, the news was not so bright. In October, apparel manufacturers nationwide shed 3,600 jobs, and textile mills lost 2,900 jobs. (Employment in the sector that includes the makers of sheets, towels and bedding remained flat.) Combined, employment in the apparel and textile sector is now 729,000, according to the Labor Department’s latest figures.
