Mortgages

Small businesses did a bit more hiring and paid workers more last month, according to a report from payroll provider Paychex.

The jobs numbers beat analyst expectations, but the unemployment rate rose two-tenths of a point to 3.6%.

In its latest report, payroll giant ADP noted that some slowdowns are occurring, with job losses in professional and business services.

The rate of growth in both jobs and wages slowed from January, according to a new report from Paychex.

The latest jobs report shattered expectations as the unemployment rate dipped one-tenth of a percentage point to 3.4%, the lowest rate since 1969.

Private sector payrolls grew by 106,000 jobs, even though many companies laid off workers, while annual pay increased 7.3% year-over-year, according to ADP.

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.