Franchises added 19,160 jobs to the nation’s private sector during May 2013, according to ADP, which released its first National Franchise Report this month.
The new report, produced by ADP and Moody’s Analytics, measures job increases and declines in 16 different franchise categories, including auto parts and dealers, accommodations, building material and garden equipment, manufacturing, restaurants and food retailers.
The franchise industry is similar in size to the financial services industry, supporting 6 percent of all U.S. jobs, said Mark Zandi, chief economist at Moody’s Analytics.
Last month, restaurants, business service, and food retail franchises added the majority of positions -- 17,590 of the 19,160 jobs.
>>Restaurants -- 13,980 jobs
>>Business Services -- 2,530
>>Food Retailers --1,080
Those gains were offset by job declines last month among educational (-940), professional (-710) real estate (-250) and other franchise categories (-270), the report said.
In the last 12 months, the franchise industry has added about 150,000 jobs to the economy, said Ahu Yildirmaz, senior director of the ADP Research Institute. The report’s data was derived from ADP payroll data, which represents 15,000 franchises and franchisees employing more than one million workers in the U.S.