Franchise Jobs Soften in March

April 13th, 2015

ROSELAND, N.J. – Private-sector franchise jobs in the United States had a weak month of hirings in March. Franchise hirings increased by 20,250 during the month, according to ADP National Franchise Report.  That compares to 108,000 jobs that American small businesses of 1 to 49 employees added from February to March. Automobile dealers had the highest hiring growth rate for March of 1.1 percent. Education related franchises followed at 0.8 percent.

<img alt="" src="http://www.bluemaumau.org/sites/default/files/041315_1936_FranchiseJo1…; style="float: right; height: 220px; width: 379px; margin-left: 5px; margin-right: 5px;" />"Franchise job gains in March were down almost a third from February and fell below the twelve-month average," said Ahu Yildirmaz, vice president and head of the ADP Research Institute. "However, the employment growth rate for franchises still exceeds the overall growth rate for the past twelve months."

Both small businesses and franchised businesses had a weak month, following the trend of the overall nonfarm private employment rate, which increased by only 108,000 jobs.

"March job gains came in under 200,000 for the first time since January of last year," said Carlos Rodriguez, president and chief executive officer of ADP.  "The decline was centered in the largest companies, those with 1000 or more employees."

Mark Zandi, chief economist of Moody's Analytics, said, "Job growth took a step back in March. The fallout from the collapse in oil prices and surge in value of the dollar is hitting the job market.  Despite the slowdown, underlying job growth remains strong enough to reduce labor market slack."

The ADP National Franchise Report derived from ADP payroll data, which represents 15,000 Franchisors and Franchisees employing nearly one million workers in the U.S.

Franchise Jobs Soften in March

BMM