Still Hiring! Walmart, Other Superstores Buck U.S. Employment Trend
Reuters | May 8, 2020
Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N), the world’s largest retailer, added more than 90,000 jobs.
Overall, roughly 20.5 million people lost their jobs in April, the U.S. Labor Department said on Friday, a wipeout of jobs at a rate not seen since the 1930s. The unemployment rate jumped to 14.7%, although some economists estimate the true level is closer to 20% due to misclassifications of workers.
However, warehouse clubs, superstores and supercenters, saw an increased demand that cause a need to hire 93,400 additional workers. The biggest names in the category, Walmart and Costco, both operate member-ship only clubs who have greatly benefited as panicked shoppers stockpiled essentials.
Specifically, Walmart said last month it had hired an additional 150,000 new staff across its stores and fulfillment and distribution centers since March, 85% of whom were in temporary or part-time roles. The company said it plans to hire 50,000 more.