Payroll

Pay rose a moderate amount, but job growth at smaller companies slowed slightly.

The document reflects the reduced 24 percent withholding rate in the Tax Cuts and Jobs Act.

Payroll and the New Back Office

Paychex reported slight gains last month in employment and wage growth at small businesses, as the tight labor market appears to be holding back more robust growth.

Hiring kept up its robust pace with the help of tax cuts.

There are signs of slowing growth as the labor market gets tighter despite tax cuts.

There was a continuing decrease in the rate of growth in both small business jobs and wages last month.

ADP has acquired Celergo, a provider of payroll management services in 150 countries.

Paychex reported a continuing decline in the rate of growth in jobs and wages at small businesses in July, a sign that tax reform isn’t boosting the economy as much as the latest GDP numbers suggest.

Offering payroll as part of a firm’s services is often the perfect value-add that small business clients are looking for.