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Log In / Register | Jun 24, 2018

Tax Cuts and Government Spending Threaten to Overheat Job Market

America’s franchised establishments added 24,700 jobs in February. Among the top job growth sectors in number of hires over the month before were franchised restaurants, auto parts & dealers, and hotels, according to the ADP National Franchise Report, which was released yesterday morning.

Although the job market is red hot for workers, employers are finding it increasingly tough to find workers to hire.

Mark Zandi, chief economist of Moody’s Analytics, projected that economic growth was still revving up. “The job market is red hot and threatens to overheat,” said Zandi. “With government spending increases and tax cuts, growth is set to accelerate.”

Private sector employment grew by a vigorous 235,000 jobs in February, according to the ADP Research Institute in collaboration with Moody’s Analytics.

Small businesses with under 50 employees added 68,000 jobs from January to February.

“The labor market continues to experience uninterrupted growth,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “We see persistent gains across most industries with leisure and hospitality and retail leading the way as consumer spending kicked up. At this pace of job growth employers will soon become hard-pressed to find qualified workers.”


      U.S. Added 24,700 Franchise Jobs in February, According to ADP National Franchise Report

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Don Sniegowski is editor of Blue MauMau, the daily news journal for franchise & small business owners. Call him at +1 (270) 321-1268, tweet @bluemaumau or email don@bluemaumau.org.