Although seasonal hiring announcements for retail and transportation reached the highest levels since 2021, actual job additions for both sectors in October dropped to the lowest point since before the pandemic, according to a Nov. 7 report from Challenger, Gray & Christmas, Inc.
Based on nonseasonally adjusted data from the Bureau of Labor Statistics, the firm reported that retailers added 124,700 jobs, marking the lowest October total since 2018. Transportation and warehousing added 61,300 jobs, or the lowest number since 2019.
“Certainly, the impact of two hurricanes in October kept some seasonal hiring from occurring,” Andrew Challenger, the firm’s senior vice president, said in a statement. “Rebuilding efforts in the South and Southeast may continue into November, potentially affecting both the demand for and availability of workers in those areas.”
Although employers announced plans to hire 659,850 seasonal workers, Challenger predicted that actual seasonal job gains for retail will fall below the 2023 total of 564,200. Overall, retailers will likely add about 520,000 new jobs, the firm said. This will slightly surpass the 509,300 jobs added in the final quarter of 2022, but mark the second-lowest total since 2009.
Total nonfarm payroll only rose by 12,000 jobs in October, but economists cautioned against panic and remained optimistic, citing temporary disruptions such as hurricanes and strikes. Generally, the market is still angled for a “soft landing” for the rest of 2024, they said.
Job seekers are showing increased interest in part-time seasonal work in 2024, especially in retail, according to an iCIMS report. Many job candidates want a part-time role, with nearly three-quarters saying they’d prefer it over full-time seasonal work.