Specialty chains and department stores trimmed payrolls in August, while discounters added jobs as the nation’s unemployment rate fell slightly, according to the U.S. Department of Labor’s monthly employment report released Friday.
Apparel and accessories stores cut a seasonally adjusted 6,200 jobs to employ 1.39 million in August, while department stores shed 900 jobs to employ 1.34 million last month. General merchandise stores, a category that includes department stores and discounters, added 7,600 jobs to payrolls to employ 3.1 million.
Jack Kleinhenz, chief economist at the National Retail Federation, said, “The weaker job growth presents a mixed picture of the economy compared with other indicators, implying the economy is growing. Today’s report calls into question how much momentum the U.S. economy will show in the second half of the year. On a positive note, average hourly earnings picked up. But it still remains modest at 2.1 percent on a year-over-year basis.”
In manufacturing, textile mills, which are seeing a surge in factory investments, saw an uptick — mills making apparel fabrics and yarns added 500 jobs to employ 117,200 last month, while mills making home-furnishing products added 100 jobs to employ 112,800. Apparel employment fell 500 to 130,800 in the month.
In the overall economy, employers added 142,000 jobs as the unemployment rate fell to 6.1 percent from 6.2 percent in July.
“With today’s report, businesses have added more than 10 million jobs over the last four and a half years,” said Secretary of Labor Thomas E. Perez. “That makes 54 consecutive months of private-sector job growth, the longest streak on record. The unemployment rate ticked down to 6.1 percent in August, a significant decrease from 7.2 percent in August 2013.”
However, Perez noted that there are still 3 million long-term unemployed Americans and “that’s why, this year, the Labor Department is investing more than $1 billion in job-driven training initiatives that will help more people acquire the skills they need to compete for the jobs of the 21st century.”
Doug Handler, chief U.S. economist at IHS Global Insight, said, “August’s employment report is clearly not as strong as the previous six months, but it’s not weak enough to declare that a turning point is imminent with respect to economic growth. We look forward to a September report that will demonstrate the August result to be a blip rather than a trend.”
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)