U.S. Labor Market Adds Almost 1 Million Jobs Last Month
The U.S. economy continues its strong rebound despite the Delta variant.
In July, the U.S. labor market created a higher than expected 943,000 jobs and had better-than-reported payroll growth in May and June.
“The job report is phenomenal,” said Mitch Gould, founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. “More people employed is only good news for the U.S. economy, especially the retail sector.”
Gould said the U.S. economy has been fueled by several factors, including pent-up consumer and government spending.
“With more people employed and the unemployment rate decreasing from 5.9 percent to 5.4 percent, consumer spending should continue to drive the economy,” Gould said.
Gould’s company, NPI, works with domestic and international health and wellness product manufacturers that plan to enter or expand their distribution in the U.S.
“The CEOs and owners of brands that I talk to daily are keeping tabs on the U.S. economy as they move forward with plans to launch new products,” Gould said. “So far, the U.S. economy has shown resilience to the Delta variant.”
Gould said Dr. Anthony Fauci said recently that he does not see closing down the economy again, which is good news for the economy.
“As more people get vaccinated — and there was an increase in vaccinations this week — keeping the economy open becomes an easier goal to achieve,” Gould said.
“The companies I talk to weekly are getting excited about the future,” Gould said, adding that NPI has been able to launch products throughout the pandemic.
“Stronger consumer spending, because more people have jobs, will convince even more companies to launch products in 2021 and 2020,” he added.
NPI is the strategic partner that product manufacturers need to enter the U.S. market.
Gould developed the “Evolution of Distribution” platform that emphasizes cost-efficiency and speed to market when launching new products.
“NPI and its sister company, IHM, provide all the professional services product manufacturers need to enter the U.S. consumer market or expand their sales here,” Gould said. “We have the expertise to import, distribute, and promote brands to retailers and consumers.”
Because the pandemic increased online sales dramatically during the past 18 months, NPI has expanded its e-commerce division to include Amazon, Walmart.com, Target.com, and niche boutique websites.
“NPI understands the importance of online sales in the post-pandemic era,” Gould said, adding that his involvement with e-commerce dates back to the early 2000s when Amazon started expanding its sales beyond books, music, and electronics.
“I was part of a ‘Powerhouse Trifecta’ that placed more than 100 brands onto the virtual shelves on Amazon’s new health and wellness category at the turn of the century,” Gould said.
The “Powerhouse Trifecta” included Gould, Jeff Fernandez, a buyer on the Amazon team stocking the new category with products who is now NPI’s president, and Kenneth E. Collins, who was VP of operations for Muscle Foods, one of the largest sports nutrition distributors in the world.
“I realized early the importance of online sales,” Gould said. “Jeff and I understand how important e-commerce sales are going to be for retailers in the future. We bring a deep understanding of retailers and product manufacturers to our jobs.”
For more information, visit Nutritional Products International online.
MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand the distribution of their products in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould, known as a global marketing guru, has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, Wayne Gretzky.’