Payroll

A variety of business groups have been filing lawsuits to stop the Department of Labor's overtime rule, which is set to go into effect on July 1.

The jobs report blew past expectations, although the unemployment rate ticked up to 4%.

The jobs market showed signs of a slowdown last month as the private sector added 152,000 jobs in May, while annual pay grew 5% year over year, ADP reported.

Hourly earnings growth for employees slid to their lowest level since the middle of 2021, according to Paychex.

The pace of small-business job growth slackened in April, but hourly earnings ticked up to 3.34%, ending a nearly two-year slowdown, according to Paychex.

Annual pay increased 5.0% year over year, ADP reported.

It was the first hiring increase so far this year, according to Paychex, though it remained below pre-pandemic levels.

Private sector employers added 184,000 jobs in March as annual pay rose 5.1% year over year, payroll company ADP reported.

The unemployment rate increased two-tenths of a point to 3.9% and the BLS revised downward the job numbers for December and January, indicating some softening in the labor market.

The service-providing sector added 110,000 jobs for the month, including 5,000 in professional and business services such as accounting and tax preparation.