Holiday hiring at its highest in five years
Holiday hiring is predicted to be up this year. That is good news for job-seekers. However, others wonder if enough shoppers will turn out to justify those temp hires.
Seasonal hiring up, study shows
The employment site Snagajob recently released a study of holiday hiring. According to the report, it will be at its highest since 2007, before the Great Recession began.
The study polled more than 1,000 hiring managers across the nation. According to the report, 63 percent are planning on hiring holiday workers this year. Last year, that figure was only 51 percent. Managers expect to hire an average of 6.1 workers; that is up from 2011’s 4.1 workers by nearly half.
Toys R Us said that it will be adding 45,000 workers this holiday season; that is up from the 40,000 hired in 2011. Kohls plans to hire 58,000 workers. Walmart says it will add 50,000 hires between now and the end of the year.
Moreover, Snagajob found that managers plan to hire earlier than last year, and that more than half of holiday jobs will be full-time. And of course there is always the potential for the job becoming permanent, should a holiday employee excel at his or her job.
Separate study concurs
Another study by Hay Group, released earlier this month, predicts a 75 percent boost in holiday sales revenue this year. It says retailers are confident about the upcoming season.
Craig Rowley, Vice President of Hay Group’s Retail practice, said:
“After four years of economic turbulence, [retailers] have figured out how to operate in an uncertain business environment, and are calm and cool, rather than concerned, as they head into the holidays.”
It also found that 57 percent of retailers are expecting to hire holiday workers. That is the same figure it found in 2011, but 36 percent of those said they would add more hires than they did last year.
The Hay Group study also found that nearly half of the retailers surveyed planned to add more permanent employees before the end of the year.
Hay Group polled 14 major U.S. retailers for the results of its annual survey.
But will shopper turnout justify hiring?
However, as Daily Finance points out, Moody’s Analytics predicted earlier this week that retail sales growth will be slower in the fourth quarter than it has has been in the last three years.
Scott Hoyt of Moody’s Analytics said:
“The 2012 holiday season will be a mild disappointment for U.S. retailers expecting significant growth in sales. The numbers will rise, but less vigorously than they did a year ago. Consumers are still strapped for cash, with a high unemployment rate and a large pool of workers who have left the labor force causing the growth of wage income to slip, even relative to modest employment gains.”
However, whether sales turn out to justify it or not, the fact that many retailers are planning to add holiday hires is good news for discouraged and weary job-seekers.