Unemployment Hits Nine-Year High at 6%
Nine-Year High at 6%
WASHINGTON — The nation’s unemployment rate climbed to 6 percent in November, with job losses occurring throughout the economy, including at retailers that typically add workers for the Christmas season, according to the monthly jobs...
WASHINGTON — The nation’s unemployment rate climbed to 6 percent in November, with job losses occurring throughout the economy, including at retailers that typically add workers for the Christmas season, according to the monthly jobs report released Friday by the Labor Department.
Up from October’s 5.7 percent, the unemployment rate is the highest in almost nine years, when the economy was emerging from recession.
U.S. companies trimmed payrolls last month by a total of 40,000 workers. Included were domestic apparel factories that laid off 1,000 workers to employ a seasonally adjusted 424,000, which is 27,000 below a year ago. U.S. textile mills shed 2,000 workers, also 27,000 below November 2001.
Meanwhile, apparel and accessory stores dropped 4,000 workers from their payrolls to employ 1.177 million, which is also 4,000 below a year-ago. General merchandise stores, including mass retailers, reported 20,000 fewer workers last month to employ 2.831 million, or 46,000 less than November 2001. Department stores last month employed 2.488 million, which was 17,000 fewer than October and 52,000 below year-ago payrolls.
Carl Steidtmann, chief economist at Deloitte Research, saw positive signs for retailers, as well as the economy as a whole, in the jobs report. He said the retail job decline was because of companies gaining productivity through technology.
"They simply didn’t hire as many part-time workers for the holiday season," Steidtmann said. "Retailers are being very aggressive keeping their costs under control and that should be very favorable for retailer profitability."
Despite the higher unemployment rate, Steidtmann forecast economic growth in the last quarter of 3 percent. As one positive signal for employment, he noted the number of workers filing for unemployment claims in recent months declining.
Andrew Hodge, senior vice president of Global Insights, based in Philadelphia, said the increase in the unemployment rate reflects an economy seesawing from quarter-to-quarter.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast