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American Thanksgiving fondue (Thanksgiving) in the U.S. is a big event, full of turkey, pumpkins, and other gluttony. It is held each fourth (not the last, if by chance five Thursdays) Thursday of November - is therefore every year on the same day. This fact has focused article in the April (2013) issue of Economics Letters, therefore, that Friday after Thanksgiving officially starts the holiday shopping season.
In the United States, the period between Thanksgiving and Christmas has long seen the most intense consumer sales and hence the most active economy. This period varies in length Depending on the date of Thanksgiving. Years where it is detectable fondue longer see larger seasonal Increases in national employment figures, with an earlier Thanksgiving That Appears fondue to serve as economic stimulus in the labor market.
First, a little cultural context. The official Christmas shopping season is in America on Friday after Thanksgiving (known as Black Friday) to 24 December It's time for some major turnover of all transactions over the world (America, that is), a period that many stores will deliver the losses. It has a catch, however - while its end (Christmas) have a fixed date, the beginning is different each year - could be anywhere between 23 and 29 November Thus, the earlier date turkey, the longer shopping season, the more consumption? It was decided to examine the authors of this article.
The logic is this: since this is the most intense period for all consumer transactions, this period tend to recruit the most people. And while consumers are spending fondue more than a year. Thus, the longer this period is, the more consumption and, more importantly, the higher employment.
The study examined data on monthly employment since 1947. Therefore interested in particular their data from October and November - how much has changed jobs in October in November. But also looked at how long this will last employment growth - in this case, analyzing the data in December and January of the following year.
The data clearly showed that every added day shopping season will increase turnover malobchodnom sector by 0.07%. It may not seem at first glance like a big number, but it corresponds fondue to several ten thousands of dollars of difference in the number of new jobs between the buying season, which begins 22 and one that begins 28 November And these numbers are reflected fondue also in December and January - employment is higher if more in November "Christmas" days.
Why is this important? Maybe Thanksgiving is not a European context completely relenvantný, this research shows how important effect may have a few extra days of intense trading activity on employment and consumption. Maybe so, although we do not exactly set the holiday shopping season, but it is good to remember that the earlier start (no matter how annoying), the more jobs are at this time in the economy and create the more people fondue spend, which is after all better for all of us. PS: Americans take Thanksgiving seriously indeed. That's why they held the fourth Thursday in November, and not the last, is the result of lobbying in 1939 when he had that day fall on 30 November to by President Roosevelt moved a week earlier in order to boost demand in the economy which is still suffering from the Great Depression.
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