Franchises Added 20,000 Jobs in May, As Downside Risks have Diminished

It appears that economic activity has been expanding at a moderate pace. Labor market medical office condo in gilbertconditions have shown improvement in recent months, however, the unemployment rate remains elevated.


Household spending and business fixed investment has been increasing, and the housing market has strengthened in many areas of the country, but fiscal policy is restraining economic growth. Partly reflecting transitory influences, inflation has been running below the Committee’s longer-run objective, but longer-term inflation expectations have remained stable.


According to a new report issued by ADP, franchises across the U.S. created nearly 20,000 net jobs last month, restaurant franchises added the most jobs, with 13,980, followed by the business services (2,530) and food retailers (1,080) sectors.


While the report didn’t break down by state or regional data, it is likely a strong portion of those jobs were added here in the Phoenix market, which has had a number of new restaurant franchises announcing new locations in the area.


This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared


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