Holiday Hiring Outlook Not Good

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People looking to pick up a little part-time work in the retail trades this holiday shopping season may be disappointed.

The Challenger, Gray and Christmas Holiday Hiring Forecast predicts seasonal hiring is likely to remain unchanged or come in below last year, when retailers added nearly 693-thousand extra workers.

The outplacement consultancy says that because retailers may be expecting smaller sales gains than a year ago, they're likely to add the fewest number of extra workers possible without sacrificing customer service.

CEO John Challenger says that while the decline in gas prices bodes well for retailers, the weakness in the housing market is worrisome. He notes that people are not pulling extra cash out of their homes through refinancing -- cash that was often spent the nation's in malls, home improvement stores and electronics retailers.