FRANCHISE HIRING JUMPS: Franchise companies added 25,060 jobs in October, a big increase over the 15,040 added in September and 16,160 in August, according to payroll company ADP, which tracks hiring at franchises such as restaurants, retailers and auto repair shops.
RESTAURANTS ARE HOT: Restaurant franchises again created the most jobs, extending a monthslong trend. Restaurants added 11,520, up from 9,190 in September. The hiring trend shows that restaurant franchisees are optimistic that consumer spending will continue to grow and create demand for more help in dining rooms and kitchens. In second place were automotive franchises, which added 5,150 jobs after cutting 1,090 in September. There were small job cuts at food retailing, leisure and rental franchise companies.
WHAT THE REPORT TELLS US: The job additions, which amounted to a 0.3 percent growth rate, were well above the average of 0.2 percent over the past year. The big jump is in line with the 204,000 new jobs reported by the Labor Department. Franchise owners are showing some of the budding optimism that other small business owners have, although many are still hiring cautiously.