According to the financial news app Zhitong Finance, the American retail giant Macy's (M.US) announced plans to recruit over 0.0315 million full-time and part-time employees during the upcoming holiday season, a decrease from last year's approximately 0.038 million employees and 2022's approximately 0.041 million employees.

This reflects the overall trend in the U.S. retail trade. Due to a soft job market and cautious consumer spending, it is expected that U.S. retailers will reduce the hiring of seasonal employees.

According to a report by Deloitte, due to inflation and reduced consumer savings, holiday season sales in the United States are expected to grow at the slowest pace in six years. The report states that during the period from November 2024 to January 2025, holiday season retail sales could increase by 2.3% to 3.3%, with a total estimated maximum of $1.59 trillion, compared to a growth rate of 4.3% and a total of $1.54 trillion in the previous year. Sales in 2018 increased by 3.1%.

As of press time, Macy's stock rose by 0.13% pre-market. The stock has fallen by 22% cumulative since the beginning of this year.