WASHINGTON
,
March 19, 2024
(press release)
–
The retail industry remains the largest private-sector employer, supporting 55 million jobs in 2022, up from 52 million in 2018. It contributes 26% to total
Key Highlights: * Retail industry's total labor income contribution was
* There were nearly 4.6 million retail establishments in 2022, accounting for 11.1% of all business establishments * States with the largest total number of retail establishments in 2022 were
Original Press Release:
The retail industry supported 55 million full-time and part-time jobs in 2022, accounting for 26% of total
“The retail industry continues to expand in every way possible, from the number of jobs it supports to the number of retail businesses, and its total impact on GDP,” NRF President and CEO
The retail industry continues to expand in every way possible, from the number of jobs it supports to the number of retail businesses, and its total impact on GDP. NRF President and CEO
According to the report, the retail industry’s total labor income contribution was approximately
In terms of direct economic contribution, the report found that there were nearly 4.6 million retail establishments in 2022, which accounted for 11.1% of all business establishments in the country. Retailers also directly provided 32.2 million jobs for American workers. While retailers can range from small, local businesses to global operations, the study found that the vast majority (98.6%) had fewer than 50 employees in 2022. These firms accounted for 40.1% of all retail jobs and 35.6% of total labor income in the retail industry. Those with 50 or more employees accounted for a significant portion of retail employment (59.9%) and labor income (64.4%). The report also examined retail’s economic impact for each of the 50 states and the
The report was released in advance of NRF’s fourth annual State of Retail & the Consumer virtual discussion on the health of the American consumer, the
Read the full report here(https://nrf.com/research-insights/retails-impact). As the leading authority and voice for the retail industry, NRF conducts research throughout the year, staying on the pulse of the industry and consumer behavior as they evolve. About NRF The
Source:
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