The International Franchise Association (IFA) has released its 2013 3rd Quarter Franchise Forecast and it had some revealing insights into the industry. According to the report around 10% of new jobs were created due to the franchising sector over the past 18 months. This brings the total amount of jobs produced by franchises to 8 million.
There has been a recent 30% jump in hotel construction in the U.S. through July, which outpaced most other commercial and industrial sectors. There were over 2,700 projects either in construction, final planning or the planning stages in September. Hotels are an all too important aspect of the construction industry and point to growing local economies.
According to the National Association of Realtors (NAR), many metro areas across the U.S. have had strong showings in the 3rd quarter of this year. This includes a variety of factors concerning the housing market. Here are a few of the highlights according to the NAR:
One area of the housing industry showing continued growth is the 55+ housing market. Builder confidence in this category improved in the 3rd quarter of 2013 from the same time last year according to the National Association of Home Builders (NAHB). The Housing Market Index, or HMI, showed growth in every part of the market, including: single-family homes, condominiums and multifamily rental.
Cooper Crouse-Hinds has issued a recall for its ceiling boxes that were designed to support light fixtures. The light fixtures can fall from the ceiling and become an injury hazard due to the ceiling boxes potential to crack. There are five models of these ceiling boxes included in the recall: TP16002, TP16022, TP16023, TP16122 and TP16307. If you have one of these models you can contact Cooper Crouse-Hinds to remedy the problem. Please see the link below for more details.
According to the International Franchise Association (IFA) there were 25,060 jobs created in October alone by the franchising industry. That was 20% of all jobs created in that month. This was also a 4 month high in franchise job growth according to the IFA. This trend looks to continue into 2014 as the franchising industry grows in several sectors.
According to an index released by the National Association of Home Builders (NAHB), America’s homebuilders view housing market conditions as good. The index, or National Association of Home Builders/Wells Fargo Housing Market Index (HMI), gauges homebuilder’s perception about the housing market and asks whether condition are good or poor in three different categories, which include: current sales conditions, traffic of prospective buyers, and expectations for future sales. The index number came back at a 54, which is above the baseline of 50 to have a favorable outlook on the housing market.
Viking has issued a recall for four models of its built-in side-by-side refrigerator freezers with in-door dispensers. The recalled models are: 42-inch FDSB5421D and VCSB5421D, and 48-inch FDSB5481D and VCSB5481D. There are electrical connectors that can overheat and become a fire hazard. If you have one of these models of refrigerators, contact Viking for a free, in-home repair service. Please see the link below for more details.
According to the National Association of Realtors’ (NAR) quarterly commercial real estate forecast, commercial real estate leasing is showing consistent and steady growth. In the 3rd quarter of 2013 from the 2nd quarter alone, there was a 2% rise in leasing activity in the commercial sector. There was an overall 0.2% drop in commercial property vacancies.
Private sector job growth is getting a big boost by the franchise industry. There were over 25,000 jobs added in this sector in October alone. This is a big jump when compared to September of this year, which still had strong showing by adding 15,000 new jobs.