Amazon.com, Inc. (NASDAQ:AMZN) announced that it would be adding 120,000 seasonal jobs for the busy holiday season.
The company is ramping up efforts as it gears itself for Christmas, Black Friday and all the other holiday shopping that is coming in the next couple of months. The 120,000 jobs it will add will equal the amount of new workers it brought in for a few months.
Industry surveys predict that shoppers will spend more money this year than they did in 2016 on holiday shopping. The move comes as the labor market has been adding more jobs every month, while home prices have been on the rise and stock markets are reaching record highs.
Unemployment rates continue to fall as they are at their lowest level since 2001 at 4.2%. Annual wage also rose by 2.9% in September.
There are several other major retailers adding jobs during the holiday season, including J C Penney Company Inc (NYSE:JCP), which will add an additional 40,000 workers, while Macy’s Inc (NYSE:M) will expand its workforce by 80,000, below its 83,000 from last year.
The Amazon jobs will be spread out over more than 75 fulfillment centers around the country.
AMZN stock is up 0.3% Friday.