When looking at employment in U.S. franchises, the rental car industry had a positive year-over-year growth rate. According to the recent ADP National Franchise Report, the rental industry’s year-over-year growth rate for December increased 3.3% over the same period last year.
Additionally, the rental industry’s franchises experienced a positive average growth rate (0.3%) over a 12-month period, according to the report. This equals the average growth rate for all franchises.
However, when looking at development on a monthly basis, the rental industry showed a negative growth rate (-0.1%) over November. For employment numbers, the rental industry’s monthly employment change is down by 40.
As a whole, U.S. private-sector franchise jobs increased by 38,000 during the month of December, according to the report, driven primarily by employment growth in franchised restaurants.
“At 3.4% for 2014, franchise job growth was notably stronger than the U.S. total private growth rate of 2.2%,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “December’s jobs number was the highest of 2014, bolstered by a large jump in restaurant employment from around 12,000 in November to 24,000 this month.”
Distributed to the public each month free of charge, the ADP National Franchise Report measures monthly changes in franchise employment derived from ADP’s actual transactional payroll data. The report is produced by ADP, a global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics Inc.
Chart courtesy of the ADP National Employment Report. Note: Sum of components may not equal total due to rounding. Industries are ranked based on monthly contributions to Total Franchise Employment.