Projections from the Bureau of Labor Statistics show labor force participation rates declining into 2026, regardless of age, gender, or race.
The furniture and home furnishing sectors are being hit hard over the Trump administration’s latest round of tariffs released on Tuesday. Goldman Sachs warns that some higher costs may not be easily passed on to consumers by specialty retailers. In effect, manufacturers could be facing reduced profits if they can’t pass the higher prices on to consumers.
Austin, Tx.-based Four Hands nearly doubled their revenue within a five year period, projecting $160 million in sales this year. The significant growth is credited to their loyal following, which includes over 12,000 business-to-business customers with notable retailers such as West Elm, Crate & Barrel, Pottery Barn, Neiman Marcus, RH, and top interior designers as well as over 500 trade applications per month from those wanting to become registered Four Hand customers.
Data from the Bureau of Labor Statistics in the fourth quarter of last year paints a picture of varied growth patterns in labor force participation rates among different age, gender, race and ethnic groups.
The National Retail Federation says retail industry employment in June increased by 50,200 jobs over the same period last year despite a seasonally adjusted drop from May of 25,800. The numbers exclude auto dealers, gas stations and restaurants. Overall, U.S. businesses added 213,000 jobs over May, according to the Labor Department.
Herman Miller, Inc. announced results for its fourth quarter ended June 2, 2018.
Although unemployment is down and an additional 10.5 million people are expected to be employed over the 2016 to 2026 decade, data from the Bureau of Labor Statistics shows the projected shifts in the labor force due to an aging population and changing demographics.