U.S. Unemployment Rate Drops to 8.5 Percent
The U.S. unemployment rate dropped to its lowest level in three years on Friday, and now stands at 8.5%. Nonfarm payroll employment added 200,000 jobs in December, bringing the country’s total job creation for 2011 to 2 million.
While the U.S. job market is steadily improving, unemployment in the eurozone remains high, at 10.3%. External shocks, such as the financial turmoil in Europe, could roil the U.S. stock market this year, even though the U.S. economy is improving.
Our best advice is to keep on top of your inventory planning and to watch your trends from week to week. The only thing that really matters is what is going on in your business, so you have to keep on top of the numbers.
“We expect spring to be strong for most retailers, provided there aren’t any big external shocks,” said Blacks’ Senior Consultant and Founder Steve Pruitt.
“U.S. consumers have proven that they are pretty resilient to stock market swings and psychological upsets, so it would take an event that impacts their bank accounts to keep them from spending.”
