WASHINGTON — Retailers and apparel and textile producers all cut payrolls in December, bucking the overall trend of stronger-than-expected job growth nationwide for the month.The dramatic move of apparel production to low-cost markets abroad continued to eat away at domestic producers last month and throughout 2006. Apparel manufacturers cut 300 jobs to employ 240,700 in December, as textile mills reduced payrolls by 1,900 to 185,600 and textile product mills cut their workforce by 100 to 166,500. For the year, the sector lost a total of 43,600 jobs.The decline in manufacturing jobs is seen by many U.S. textile concerns as a symptom of unfair competition from countries like China, which they contend keeps its currency undervalued and subsidizes its own producers.On the retail side, department stores, which underwent a wave of consolidations last year, cut 1,100 jobs to employ 1.6 million, while apparel and accessories stores eliminated 3,600 positions for a total workforce of 1.5 million.The picture between the two retail channels changes, though, when seen against December 2005. Highlighting the impact of mergers on the sector, department stores cut payrolls by 38,700, as apparel and accessories stores added 12,600 workers. (For more on retail employment, see page 22.)With big gains in the service sector, the overall economy added 167,000 jobs — well above economists' estimates of 100,000 new positions — as the unemployment rate held steady at 4.5 percent.The better-than-projected performance of the job market lately suggests the economy might have a little more momentum than previously thought, said Scott Hoyt, director of consumer economics at Moody's Economy.com."There's no question more jobs means more income, which means more spending power," said Hoyt. "The risk in the longer run is if the economy stays stronger than the [Federal Reserve] would like it to, we run the risk of seeing higher interest rates down the road."A drag from the ailing housing market is expected to slow the economy some as 2007 wears on, said Hoyt.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion