Payroll

Businesses have been dealing not only with inflation and rising interest rates, but also new requirements for family leave, minimum wage increases, and pay transparency rules.

The ADP Research Institute released a report on how worker promotions can affect businesses and employee retention and debuted a new index for tracking employee motivation and commitment.

The labor market showed some signs of cooling, with the unemployment rate rising three-tenths of a percentage point to 3.8%.

More than 3 million workers would be newly eligible for overtime when they work more than 40 hours a week, under a new proposal.

Annual pay climbed 5.9%, payroll processor ADP reported.

In this week's Vendor Spotlight we discuss payroll, benefits and HR solutions provider Gusto with Will Lopez, Gusto's chief ambassador.

The rate of growth for hiring and hourly earnings stabilized this month, according to Paychex.

The unemployment rate dipped one-tenth of a point to 3.5%, the U.S. Bureau of Labor Statistics reported.

Annual pay grew 6.2% year over year, according to payroll processor ADP, which separately added generative AI features to its software.

Earnings growth for small business employees fell below 4% for the first time in more than two years, according to Paychex.

In this week's Vendor Spotlight, we talk to Irana Wasti, chief product officer at payment and bookkeeping solutions provider Bill.

The report marked the slowest month of job creation since the pandemic, although the unemployment rate declined one-tenth of a percentage point to 3.6%.

Job creation surged last month, especially in consumer-facing services.

The rate of hourly pay and hiring growth slackened last month at small businesses, which also had a harder time finding workers.

The payroll and HR technology provider is adding artificial intelligence to its products after hiring the former global head of data science and analytics at Google.

Plus, ForwardAI announces a new real-time payment system; Tipalti adds AI capabilities; Numeric launches an AI 'co-pilot' for accountants; and more news from accounting technology.

The unemployment rate nevertheless rose by 0.3 percentage point to 3.7%, the U.S. Bureau of Labor Statistics reported.

ADP reported some sectors saw employment declines, including professional and business services and large companies.

Hourly earnings growth for U.S. workers decelerated to 4.33% in May, while small business job growth declined slightly by 0.04% from April, Paychex reported.