Published November 11, 2024
2024 Seasonal Retail Hiring Update
Despite seasonal hiring announcements from both Retail and Transportation companies reaching the highest levels since 2021, actual job additions in both sectors for October were at their lowest point since before the pandemic, according to an analysis by Challenger, Gray & Christmas, Inc., using non-seasonally adjusted data from the Bureau of Labor Statistics (BLS).
Source: Challenger, Gray & Christmas, Inc.
Retailers added 124,700 jobs in October 2024, the lowest total for the month since 2018, when 115,900 positions were added. In Transportation and Warehousing, an industry that has seen significant holiday growth since the advent of online shopping, companies added 61,300 positions—the lowest October figure since 2019, when 36,300 jobs were added.
“Certainly, the impact of two hurricanes in October kept some seasonal hiring from occurring. Rebuilding efforts in the South and Southeast may continue into November, potentially affecting both the demand for and availability of workers in those areas,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.
Since 2005, retailers have averaged over 384,000 added positions in November. However, actual additions have fallen below this average every year since 2019.
Source: Challenger, Gray & Christmas, Inc.
“Limitations in October’s survey partially account for this low number, so we may see revised figures reflecting more robust seasonal hiring, especially since employers announced stronger hiring intentions compared to recent years,” added Challenger.
Indeed, seasonal employers announced plans to hire 659,850 workers this season, the highest total since 2021, when hiring plans reached 961,300, according to Challenger’s tracking. The firm has tracked seasonal hiring plans since 2012.
Challenger predicts that seasonal job gains in Retail for Q4 2024 will fall below last year’s total of 564,200. This year, they expect retailers to add approximately 520,000 new jobs, slightly more than the 509,300 added in Q4 2022, but the second-lowest total since 2009.
