Payroll

With the number of freshly minted accounting graduates dwindling and the consumer price index still rising, the law of supply and demand is driving up salaries.

Annual pay grew 5.9% year over year, as both job growth and wage growth slackened in September.

Hourly earnings growth slipped at small businesses last month to the slowest pace since September 2021, according to Paychex.

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.