2023 U.S. Retail Seasonal Hiring: Who's Expanding and Who's Contracting?

U.S. retailers are bracing for a less bountiful holiday hiring spree. Compared to the more optimistic numbers of the past, this year's forecast is somber. According to Challenger, Gray & Christmas, retailers are slated to onboard only 410,000 seasonal staffers, the lowest since the recession-hit 2008. Key insights to note:

• Amazon stands out, prepping to add a record 250,000 employees. This marks a substantial 67% leap from the previous year, a reaction to their expanded infrastructure, like new fulfillment centers and delivery stations.

• Target remains consistent, setting sights on 100,000 holiday hires, unchanged from last year.

• Macy’s, conversely, tightens its belt, with plans to cut hiring figures by 3,000.

These patterns reflect broader market concerns: rising costs and wavering consumer confidence. Specifically, Target and Home Depot anticipate a trend where customers lean more towards essentials rather than splurges, pointing at inflation's bite into household budgets. Meanwhile, UPS, historically known to hire 100,000 seasonal workers, remains tight-lipped, presumably due to ongoing union negotiations.

Sources: Reuters | Scripps News