Business

Jobs Data Offsets Weak Retail Sales
By wchung | 08 Jun, 2026

U.S. stock futures are indicating a slightly higher opening Thursday as a pleasant surprise on the labor market is helping to offset weak retail sales reports.

Government data shows that the number of unemployed workers continuing to receive benefits unexpectedly dropped for the first time in 20 weeks. New jobless claims also declined, falling 4,000 to 621,000.

More good news for the jobs market came from Wal-Mart Stores Inc., which said it plans to hire about 22,000 people as it opens 150 new or expanded stores in the U.S. this year.

The news came a day ahead of the government’s crucial tally of monthly job losses. Unemployment has been one of the market’s biggest concerns throughout the recession.

While the jobs data was certainly encouraging, disappointing reports from retailers are likely to weigh on the market Thursday.

Many U.S. retailers, including Costco Wholesale and Hot Topic, are reporting bigger-than-expected sales declines in May as shoppers keep their budgets tight. One factor that is likely weighing on results: a year ago, sales benefited from fiscal stimulus checks.

Consumer spending accounts for more than two-thirds of U.S. economic activity, so how retailers are faring says a lot about the state of the economy.

Ahead of the market’s open, Dow Jones industrial average futures rose 20, or 0.2 percent, to 8,689. Standard & Poor’s 500 index futures gained 1.90, or 0.2 percent, to 933.60, while Nasdaq 100 index futures added 2, or 0.1 percent, to 1,479.50.

The day’s news presents a familiar quandary for investors who have been grappling with mixed signals on the economy lately. While some reports indicate the economy’s decline is slowing, others show that companies and consumers are still feeling the pain of a deep recession.

Many fear that the “green shoots” of economic growth that were the impetus for the market’s spring rally have yet to really bloom, which could indicate a slower, less robust recovery than originally hoped.

6/4/2009 8:59 AM SARA LEPRO AP Business Writer NEW YORK