America’s seasonal holiday workers are going to have a happier holiday this year, as the economy is firing on all cylinders. Retailers are expecting huge business during the holiday season, and are raring to go into the season with high hopes. Goldman Sachs even mused about a renaissance of sorts in the retail sector this holiday season, after one of the best quarters for the economy ever since 2004.
The U.S. economy witnessed brilliant economic growth in the third quarter of this year, as Trump pulled the economy into a stable position. Minus the 8 years of Obama in between, the GOP has performed well in ensuring the smooth and stable flow of the economy.
With retail outlets expecting increased profits, they are willing to hire extra help, which can further decrease unemployment rates within the country. Currently, unemployment rates are at a measly 3.7 per cent, which is at a 48 year old low.
With a positive flow of jobs and a scarcity of workers, salaries are about to go up this holiday season in the United States. In consideration of this, the hourly pay for workers working in the holiday season is expected to rise by a massive 32 per cent.
A research conducted by Snag, which is a marketplace for hourly work, and Wakefield Research, has found out that the average wage for the holiday season is expected to rise by 30 per cent or more. The research concluded that the hourly rate in the season will go up to US$15.4 per hour from the US$11.7 per hour it was last year. This is a great achievement to boast of, and will further help America’s economy walk towards prosperity under the leadership of Donald Trump.
Renata Clack is a reporter for Spruce Tribune. She’s worked and interned at Glboal News Toronto and CHECX. Renata is based in Toronto and covers issues affecting her city. In addition to her severe Cinnabon addiction, she’s a Netflix enthusiast, a red wine drinker, and a voracious reader.