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The Kronos Retail Labor Index

Kronos Inc.
August 2011
www.kronos.com

Summary:

The Kronos Retail Labor Index™ is a family of metrics and indices that analyze the relationship between the demand and the supply sides of the labor market within the retail sector. It is derived from a single unified data set, allowing for statistically appropriate comparisons and time series–based trending analysis. Firms that use Kronos hiring solutions employ approximately 15% of the U.S. consumer retail labor market, providing Kronos with a unique set of data on employee job applications, hirings, and length of service. The Kronos Retail Labor Index provides a distinct and early indicator of the health of the retail sector. The Kronos Retail Labor Index is released monthly based on a pre-announced schedule.

The August Retail Labor Index includes data for July 2011 and reflects a strong gain in hiring bringing it to a level that is the second highest reading in more than three years. The uptick in hiring is encouraging, and hints at retailer confidence in a forthcoming pickup in retail sales following the late spring-early summer slowing. While the RLI has strengthened from a low of 2.3 percent over the last year and a half, the improvement has been gradual, with readings still below pre-recession levels. Gradual improvement in the RLI is in line with trends in national retail employment, which has also shown only modest gains over the last year or so, especially in light of the sharp declines experienced during the recession and early recovery period.

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