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Franchise Employment Robust in November

Franchise hiring, interviews on TuesdayHiring by franchised establishments increased by a robust 28,300 jobs from October to November, according to the ADP National Franchise Report that was released yesterday. That follows October's 16-month high of 31,100 hires for franchised businesses. These high employment increases show a continuing positive trend, but it also represents a labor market that has become considerably tighter for employers seeking talent.

Franchised restaurants and car dealerships, which are the first and second largest sector of franchised businesses, increased the most in the raw number of hires. Hotels, or what ADP categorizes as accommodations, increased a modest 100 jobs after three months of job cuts.

The nation’s overall private sector employment had good news as well. It grew by 190,000 jobs from October to November, according to the employment report produced by the ADP Research Institute in collaboration with Moody’s Analytics. The report is derived from ADP’s actual payroll data.

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example. There is a mounting threat that the job market will overheat next year.”

Private sector small business employment, which are businesses with under 50 employees, grew by 50,000 jobs in November. However, the goods-producing sector of small businesses dropped in hires by 3,000.

“The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase, it will become increasingly difficult for employers to attract and retain skilled talent.”

U.S. Added 28,300 Franchise Jobs in November, According to ADP National Franchise Report

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