The jobs report from ADP on Wednesday understated job growth in January. Based on its own payrolls, the growth of private employment in the United States wasn’t 291,000. It was actually 336,100 when new jobs created by franchises were included.
The new jobs appeared in every sector of the economy, from small businesses to large and from goods-producing to service-providing. Small businesses added 94,000 new jobs; medium sized companies added 128,000 while large companies (500 employees and up) added 69,000. Those running franchise operations hired 45,100 new people in January.
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