Employer Services company ADP released its September estimate for job growth numbers today, and showed an increase in employment of 162,000 jobs, beating expectations. Small business continues to be the driving force in the jobs recovery, adding half of the jobs in September. Ward McCarthy, chief financial economist at Jefferies & Co. Inc. in New York, stated that “Hiring at startup and small firms will continue to be the key to the sustainability of the labor market recovery going forward.” ADP’s number is an important predictor of the Labor Department’s statistics, which will be released on Friday.
IHS Global Insight recently prepared a study for IFA on the economic outlook of franchising, and forecasted employment growth in the franchising industry slightly outpacing that of the whole economy. They noted, however, that job growth remains tepid and that access to credit is still a major obstacle to to the expansion of franchising. Read more about the study here. Job creation is sure to be a central focus of tonight’s presidential debate, which will cover domestic policy. You can read more about today’s jobs numbers here.