Employment data

Hourly wage growth at small businesses dampened this month, even though the pace of hiring remained strong.

The unemployment rate ticked downward by two-tenths of a point to 3.5%, but employment in accounting and bookkeeping services fell slightly.

Annual pay rose 7.3% year-over-year, ADP reported, although larger companies actually subtracted jobs.

Hourly earnings growth slowed last month to its weakest level since March of last year.

The best firms are currently securing independent contractors to assist during the 2023 busy season and beyond.

Worrisome job losses occurred in a number of sectors, including professional and business services.

Hourly earnings and hiring slackened at small businesses, although workers put in more hours, boosting their weekly pay, Paychex reported.

Hourly earnings growth at small businesses declined to its lowest level since over a year ago, while hiring also slowed, according to a report from Paychex.

The economy gained 315,000 jobs last month, the U.S. Bureau of Labor Statistics reported Friday, although the unemployment rate inched up two-tenths of a point to 3.7%.

Hiring in professional and business services and financial activities appears to be slowing.

Hourly earnings grew at small businesses this month, but the pace of job growth slackened.

The unemployment rate fell one-tenth of a point to 3.5%, a level not seen since before the pandemic.

Small businesses kept adding jobs and increasing wages amid the tight labor market last month, but the pace declined from May, according to payroll company Paychex.

The economy added 390,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday, including 16,000 jobs in accounting and bookkeeping services.

The private sector added a modest total of 128,000 jobs in May, according to payroll giant ADP, but that was after losing 91,000 jobs at small businesses.

Employees at small businesses in the U.S. experienced the 12th month in a row of increases in hourly earnings this May, but the pace of job growth slackened, according to payroll giant Paychex.

Employers in the private sector added 247,000 jobs last month, according to payroll giant ADP, as the labor market slowed amid inflationary pressures and rising interest rates, with small businesses losing ground.

The unemployment rate fell two-tenths of a point to 3.6%, the U.S. Bureau of Labor Statistics reported Friday, and two previous months' job gains were revised upward.

Private sector employers added 455,000 jobs this month, payroll giant ADP reported Wednesday, as the economy continued to bounce back despite the ongoing pandemic, although continuing labor shortages held back stronger growth.

Employment growth at small businesses moderated slightly in March, but wages continued to increase, according to payroll giant Paychex.