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- Blue-collar Jobs(272,661)
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- Retail Jobs(174,607)
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Stocks Open Higher with Job Data
By EmploymentCrossing.com
As the job market wavers, cost cutting efforts are resulting in higher stock openings.
While the Labor Department reports the seventh consecutive month of job cuts, companies shrinking payroll are improving liquidity.
Dow futures were up by 41, and the S&P 500 rose by just over 4.5. However, Nasdaq futures slipped by 4.5.
Increases in unemployment, along with oil prices and a drop in the auto market, have caused the stock market’s activity to fluctuate in recent weeks.
The Labor Department reported 51,000 jobs lost for the month, 21,000 fewer than expected, while the unemployment rate for July climbed up to 5.7%, with 463,000 jobs lost to date this year.
Unemployment trends not only drive the job market, but the retail industry too. Economists conclude that unemployment causes a decrease in consumer spending, which accounts for 70% of the nation’s economic activity.
For more information on retail jobs in your area, click here.
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