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Log In / Register | Jul 21, 2018

Labor Market Becomes Even Tighter in June

American franchised establishments increased their hiring by 18,800 jobs for the month of June, according to ADP Research Institute. Restaurants hired 11,000 more, followed by 6,300 from auto and parts dealers. Hotels also raised their job hiring by 2,400.

What is surprising is that small businesses, businesses below 50 employees, grew in hirings below the total number of franchised establishment gains — 17,000 hires versus franchises’ 18,800 in June. In comparison, in May, the much larger small businesses group increased by 83,000 hires versus franchised establishments’ 18,400.

The hiring numbers are derived from ADP’s actual payroll data, which measures the change in total nonfarm private employment each month on a seasonally adjusted basis.

Total U.S. confirmed private employment increased by a meager 158,000, while all small-sized businesses grew by only 17,000.

“Despite a slight moderation in the month of June, the labor market remains strong,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “For the month of June, jobs were primarily created in the service-providing sector.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Abstracting from the monthly ups and downs, job growth remains a stalwart between 150,000 and 200,000. At this pace, which is double the rate of labor force growth, the tight labor market will continue getting tighter.”

      U.S. Added 18,800 Franchise Jobs in June, According to ADP National Franchise Report

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