FRANCHISE HIRING SLOWS: U.S. franchise companies added 12,300 jobs during July, down from 27,910 in June and 19,160 in May, according to the payroll company ADP, which tracks the hiring at franchises like restaurants, retailers and home health care providers.
FOLLOWING THE TREND: The ADP report is in line with others that showed a slowing in hiring at small businesses last month. The Labor Department said private employers added fewer jobs than in June, and software maker Intuit said its customers cut 10,000 jobs.
IT'S THE ECONOMY: Businesses have held off hiring since the recession because of uncertainty about the economy. The government's report on the gross domestic product gave them more reason to be uncertain; the economy grew at an annual rate of just 1.7 percent from April through June.