Retailers’ holiday hiring plans sink to lowest levels since 2008

According to outplacement services firm Challenger, Gray & Christmas, U.S. retailers are only expected to add 410,000 new roles during the upcoming holiday season.

This marks the smallest holiday shopping season labor force additions seen since the 2008 recession.

In comparison, retailers added 509,300 holiday season jobs in 2022 and 701,400 in 2021.

The figures come as U.S. consumers have elected to shift away from nonessential purchases in favor of tightening their wallets.