Retail workers face steep gap between earnings and typical rent costs

The National Retail Federation expects seasonal hiring to fall to a 15-year low in 2026, with retailers anticipated to hire between 265,000 and 365,000 seasonal workers, down from 442,000 last year.

Nearly one in four US renters (23%) regularly or greatly struggle to afford housing costs, a May 2025 Redfin-Ipsos survey of 1,600 renters found. When facing affordability pressures, renters reported reducing restaurant visits, cutting vacations, and borrowing from friends and family to cover rent.

That trend arrives with other signs showing Americans are increasingly pessimistic about the economic outlook. The Conference Board’s Consumer Confidence Index dropped to 88.7 in November, its lowest level since April, with job-related anxieties intensifying.

The share of workers describing jobs as “plentiful” plummeted to 6% from 28.6% in October. Such weakness threatens to further cool buyer or rental demand.

The silver lining

One bright spot: affordability improved modestly from 2024. The 51.6% gap in October 2025 compared favorably to 52.2% in October 2024 and 56.8% in October 2022.