Mortgages

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

Employment rose by 678,000 in February, the U.S. Bureau of Labor Statistics reported Friday, although the number of accounting and bookkeeping jobs declined by 800.

Small businesses lost 96,000 jobs in February, according to ADP, although the private sector overall added 475,000 jobs for the month. However, Paychex reported national small business job growth remained at consistent levels in February and hourly earnings growth continued to increase.

The employment situation in January was better than expected, as employers added a robust 467,000 jobs despite the Omicron variant, the U.S. Bureau of Labor Statistics reported,

Employment fell by a stunning 301,000 jobs in December, according to ADP, which attributed the precipitous decline to the omicron variant.

Paychex monthly report shows that despite the Omicron variant, more businesses have been hiring and giving raises to workers.

The unemployment rate fell from 4.2% to 3.9% in December as employers added 199,000 jobs, including 3,400 in accounting and bookkeeping services, the U.S. Bureau of Labor Statistics reported Friday.

Private sector employers added 807,000 jobs in December, according to payroll giant ADP, as the job market continued to recover despite the ongoing COVID-19 pandemic.

Employees at small businesses saw their average hourly earnings hit a record high in December, while employment levels kept rising.

The unemployment rate declined by four-tenths of a point to 4.2%, but the job gains fell well short of expectations.