US jobs data released on Friday showed the government shutdown impacted the unemployment rate and the participation rate, however, the overall result was solid. In what could be seen as a positive sign ahead of the holiday period retailers hired seasonal workers in October at the highest level since 1999. Typically retail companies start hiring for the holiday season in October, and really increase hiring in November. This suggests retailers are somewhat optimistic about the holiday season. It is also worth noting there is a decent correlation between seasonal retail hiring and holiday retail sales. (VIEW LINK)
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