Despite predictions for strong holiday shopping season, retailers aren't racking up hiring. Fred Katayama reports.
Low gas prices, steady job gains and bigger paychecks may bring about strong holiday retail sales this year, but not many new retail-related seasonal jobs. Toys R Us is hiring 40,000 seasonal workers, five thousand less than last year. Target's topping the number at 70,000 for the third straight year. And UPS, the world's largest package delivery company, is adding between 90,000 to 95,000 temps, just as in 2014. Only FedEx is picking up the pace. It plans to hire 5,000 more seasonal workers this year, a total of 55,000. Ben Garber, economist at Moody's Analytics. (SOUNDBITE) BEN GARBER, ECONOMIST, MOODY'S ANALYTICS (ENGLISH) SAYING: "Hiring for holiday season looks a bit weaker than I would have expected. However, the economy got to a very slow start at the beginning of this year, so, perhaps, it's breathing a cautious environment, and retailers don't want to get caught putting up too much expenses for the holiday season." Overall, American retailers will add about 755,000 seasonal hires to their payrolls this holiday season, says outplacement firm Challenger, Gray & Christmas. That's about the same as a year ago.