WASHINGTON, JUNE 5 – The International Franchise Association (IFA) today released the following statement on the Bureau of Labor Statistics (BLS) May jobs report.
The report, released this morning, shows 2.5 million – the largest-ever jobs increase – and indicates the economy is recovering from the COVID-19 pandemic.
“Important policies like the Paycheck Protection Program (PPP) and the PPP Flexibility Act made this increase possible,” said Matt Haller, IFA Senior Vice President of Government Relations and Public Policy at the International Franchise Association. “America’s franchise small businesses will lead our economic recovery as customers and employees safely return to the restaurants, stores, gyms, child care centers and so many other franchise businesses that make up the fabric of our country’s economy.”
Prior to COVID-19, America’s 733,000 franchise businesses together employed more than 8 million Americans and contributed $675 billion to the nation’s economy.