What labor shortage? Sam’s Club CEO says it has reached full employment

You probably won’t be able to find much help shopping at Macy’s this holiday season due to the ongoing crippling shortage of retail workers. But if you want the low-down on a $40 cut of steak at Walmart-owned Sam’s Club the chances are good someone will be there to field questions.

“We’re at full employment in the field,” said Sam’s Club CEO Kathryn McLay at Yahoo Finance’s All Markets Summit. “It’s probably the statistic that I am most proud of. Our clubs have been at full staffing for probably over three months.”

To be sure, Sam’s Club being at full employment inside of its roughly 600 stores is the exception rather than the norm right now in retail.

Employment shortages as the economy bounces back from the pandemic continue to wreak havoc on lower-paying industries such as hotels, trucking and retail. Retail trade employment was down a disturbing 202,000 jobs in September, compared to February 2020, said the U.S. Bureau of Labor Statistics.