Auto Aftermarket Contributes to October Job Growth
Nov. 18, 2013—The automotive aftermarket industry played a large role in helping the U.S. private-sector franchise market add 25,060 jobs in October, according to the Automatic Data Processing (ADP) National Franchise Report.
In all, the auto aftermarket industry contributed to 22 percent of that job growth.
ADP, a provider of human capital management solutions, complies the monthly report measuring changes in franchise employment derived from ADP’s actual transactional payroll data. The report is produced in collaboration with Moody's Analytics Inc. and published by ADP Research Institute.
According to ADP, 21 of the 22 percent was attributed to auto parts suppliers and dealers, while gas stations and repair facilities combined to add 1 percent growth.
"October's gains were well above recent months and the 12-month average monthly growth rate,” said Ahu Yildirmaz, senior director of the ADP Research Institute.