Edit ModuleShow Tags
Edit ModuleShow Tags

Hot October Jobs Data Includes Franchising


Published:

Everybody’s talking about today’s blockbuster U.S. jobs report, with the Bureau of Labor Statistics reporting an additional 271,000 jobs hitting the economy in October. That puts the unemployment rate down to a clean 5 percent. That’s not the whole story, as ADP reports that U.S. franchise employment increased 52,500 during the month—nearly 20 percent of the total country’s increase!

“October marks the highest number of franchise jobs added since we began publishing the report,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “Over 90% of the growth came from Auto Parts & Dealers and Restaurants, two sectors where job growth typically signals increased consumer spending.”

Digging into the ADP data, restaurants—no surprise—led the franchise sector with 39,200 new jobs added during the month. Franchised auto parts and dealers added 10,300, while food retailers, business services and accommodations added 600, 200 and 500, respectively.

With most economists pegging total U.S. job growth for the month somewhere closer to 180,000, the numbers are excellent news for the economy. It’s also widely reported that the positive figures nearly guarantee the Federal Reserve will raise interest rates upon convening in December.

While that may be unwelcome news for some people—your househunting author included—seeing the economy heat up this far in advance of the holiday season ramp up is excellent news, with confidence that our collective holiday shopping will turn this significantly positive blip into a mini winning streak.

Click HERE for a more detailed look at ADP’s National Franchise Report.

As we head to this year’s Restaurant Finance & Development Conference in Las Vegas, and the West Coast Franchise Expo in California later in the week, we’ll keep our eyes and ears open for further anecdotes and evidence of what’s to come in the next 12 month of franchising and beyond.

Edit Module
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags
Edit ModuleShow Tags


Covers everything from good news to bad judgment

About This Blog

The latest news, opinions and commentary on what's happening in the franchise arena that could affect your business.

Tom KaiserTom Kaiser is associate editor of Franchise Times. He can be reached at 612.767.3209, or send story ideas to tkaiser@franchisetimes.com.
 
Beth EwenBeth Ewen is editor-in-chief of Franchise Times. She can be reached at 612.767.3212, or send story ideas to bewen@franchisetimes.com.
 
Nicholas UptonNicholas Upton is staff writer at Franchise Times. He can be reached at 612.767.3226, or send story ideas to nupton@franchisetimes.com.
 
Mary Jo LarsonLaura Michaels is managing editor of Franchise Times. She can be reached at 612.767.3210, or send story ideas to lmichaels@franchisetimes.com.
 
Mary Jo LarsonMary Jo Larson is the publisher of Franchise Times Magazine and the Restaurant Finance Monitor.  You can find her on Twitter at
 twitter.com/mlarson1011.
 
Nancy WeingartnerNancy Weingartner is editor-at-large of Franchise Times magazine and the editor of the Food On Demand media project. You can reach her at 612-767-3200 or at nancyw@franchisetimes.com.
Follow her on Twitter at http://twitter.com/nanweingartner.
 

Archives

Categories

Feed

Atom Feed Subscribe to the Franchise Times News Feed »

Recent Posts