NASHVILLE, Tenn. (WTVF) — As we're starting to creep into holiday months, many people may be thinking about getting a side hustle for some extra cash. But experts said this year opportunities could be slim.
Less people are spending what they used to, so stores aren't hiring as many holiday employees. Experts said retailers are expected to add just 410,000 seasonal positions for this year’s holiday shopping season.
The lowest since 2008.
This rings true for department stores like Macy's which plans to make 30,000 holiday hires, a ten percent drop from last year.
Numbers show a lot of families are starting to shift the bulk of their money to must-have items like groceries instead of splurging amid inflation.
Big box stores like Target are unfazed by this though, company plans include still looking to bump up holiday hire numbers as well as big companies like UPS and Amazon. Amazon is hoping to attract workers with its largest compensation investment to date, up to $20.50 an hour.
"It's going to be relatively flat within maybe a percent or two, of what we had last year, instead of a gang busters kind of optimism that I think some of were hoping that we would have," said finance professor Dave Vang.
All this could change if demand starts to go back up again for holiday shopping. In that case, more positions would be added.
