Economy Added 528,000 New Workers

BOCA RATON, FLORIDA, UNITED STATES, August 8, 2022 /EINPresswire.com/ -- The July jobs report almost doubled Wall Street expectations with 528,000 new workers added to payrolls.

“Last month’s jobs growth easily exceeded all predictions,” said Mitch Gould, Founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, FL. “CNBC reported that unemployment is back to pre-COVID-19 levels as well as tied to the lowest rate since 1969.”

Even better, Gould said, wage growth increased 0.5 percent in July and 5.2 percent in the past 12 months.

“More people with jobs and higher wages should be good news for retailers,” Gould added. “The challenge of inflation remains the biggest concern for everyone. Wall Street is waiting to see what the Federal Reserve will do next.”

Since the height of the pandemic in April 2020, the Bureau of Labor Statistics reports that non-farm jobs have increased by 22 million.

“Several economists reacted positively to the employment news,” Gould said. “As a Bank of America economist said, ‘It’s a good sign for the broader U.S. economy and worker.’”

Gould and the NPI team stay abreast of economic trends because they work with health, wellness, and beauty brands seeking to launch new products or expand sales of existing products in the U.S.

“For companies that we work with, strong jobs growth and increased wages is good news,” Gould said. “Although consumers may avoid spending on new clothes right now, they will buy what they consider is essential to them.

“The pandemic refocused everyone’s attention on their health,” Gould said. “Council for Responsible Nutrition reports that more Americans than ever before are buying dietary supplements to protect themselves against illnesses. They may postpone buying the latest fashions, but they are continuing to buy products that they consider a priority.”

NPI coordinates all aspects of launching their clients’ products to American consumers.

“I developed the ‘Evolution of Distribution’ platform which brings all the professional services a brand needs to increase sales or introduce a new product in America,” Gould said.

For more information, visit www.nutricompany.com.

MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skincare products. Mitch Gould developed the "Evolution of Distribution" platform, which provides domestic and international product manufacturers with the sales, marketing, and product distribution expertise required to succeed in the United States.

Robert Grant
InHealth Media
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