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Retail leads in job cuts as employment holds steady

April 8, 2019

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The overall unemployment rate is one of the most important statistics to retailers because of its significance to the state of the economy and consumer confidence.

Earnings growth appears to be slowing. In March, average hourly wages on private nonfarm payrolls rose by 4 cents to $27.70, following a 10-cent gain in February. Over the past 12 months, average hourly earnings have increased by 3.2%. The average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $23.24 in March, the government said.

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