Nordstrom is hiring 28,000 employees amid holiday supply chain crunch

·Markets Reporter
·1 min read

Nordstrom (JWN) is looking to hire 28,000 seasonal and regular employees as it gears up for the holidays amid an ongoing supply chain crunch and a tight labor market. 

The clothing retailer announced competitive pay and benefits to lure employees, including incentive payments of $650 at its Nordstrom and Nordstrom Rack stores.

Eligible new employees working in supply chain and fulfillment centers may receive up to $2,500.

Retailers are heading into the busiest time of the year facing supply chain squeezes. Foot apparel giant Nike (NKE) recently warned about supply concerns due to closed factories in Vietnam amid the pandemic. 

Additionally, a labor shortage has forced companies to raise wages in order to attract talent. Amazon (AMZN), Walmart (WMT), and Target (TGT) are all rolling out perks and incentives to hire workers ahead of the holidays.

The economy added a disappointing 194,000 jobs last month, far below the more than 500,000 expected. Unemployment ticked lower to 4.8% percent in September. However, that plunge came alongside an unexpected drop in the labor force participation.

The pandemic has forced many women to stay home as child care costs are sky-high. The threat of the COVID-19 Delta variant has also deterred people from taking part in the labor force.

Extended unemployment benefits, which ended over the summer, were expected to force more people to go back to work. 

For the most part, employees are in the driver's seat when it comes to their pick of jobs. Salaries, working hours and location flexibility are paramount for attracting workers. 

Nordstrom shares were trading 2% higher on Tuesday. The stock is down about 11% year-to-date.

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