So far, the improved jobs number has not translated into greater spending. Some argue that the numbers may be misinterpreted since the kinds of jobs are not usually broken down.
“Job growth has been mainly minimum-wage staffing, which has very little discretionary income,” Andrew Zatlin at SouthBay Research said. Zatlin expects job growth will moderate in the second half of the year, “which will keep retail spending from gaining much momentum.”
SPDR S&P Retail ETF
For more information on the retail sector, visit our retail category.
Max Chen contributed to this article.