Allwork

JANUARY 31, 2024

January’s private payroll growth underperformed economic predictions, with revised data from ADP suggesting a looming, albeit gradual, downtrend in the labor market. CNBC reports that in January 2024 , U.S. ADP’s report arrives two days ahead of the Labor Department’s nonfarm payrolls report. and globally.”

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OCTOBER 4, 2023

Another noteworthy observation from ADP’s report is the continuous decline in annual wage growth, which has now reached its 12th consecutive month, standing at 5.9%. A deeper dive into the report reveals that the majority of job gains came from the services sector, contributing 81,000 to the total. The post September Surprise!

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OCTOBER 7, 2022

This morning the Bureau of Labor Statistics released a report that shows that the US created 263,000 new jobs in September, which beat the average estimate of 250,000 payrolls. The BLS report reflects September’s better-than-expected job creation, but also puts the Federal Reserve in an uncomfortable position.

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AUGUST 5, 2022

In addition to an increase in jobs, the report showed that employers have consistently raised wages and experienced longer work hours, exceeding expectations from analysts. . A Reuters poll of economists showed that payrolls would grow by an estimated 250,000. . Hourly earnings grew 0.5% in July compared to the 0.4%

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NOVEMBER 13, 2024

staff receiving the notices this week will stay on Boeing’s payroll until January to comply with federal requirements that give workers 60 days’ notice prior to ending their employment. News that Boeing would send out the Worker Adjustment and Retraining Notification (WARN) in mid-November was widely expected. “As

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BMT Office Administration

MAY 9, 2024

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. These incentives are fully taxable and are subject to W-2 reporting.

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Allwork

OCTOBER 3, 2024

Private sector payrolls increased by 143,000 in September, following an August rise that marked the slowest expansion since March 2023, according to data by the ADP Research Institute in collaboration with Stanford Digital Economy Lab. In a surprising turn for the job market, U.S.

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Allwork

NOVEMBER 14, 2024

Nonfarm payrolls increased by a mere 12,000 jobs in October, the fewest in nearly four years. 2, the claims report showed. Reporting by Lucia Mutikani; Editing by Chizu Nomiyama) The post U.S. Jobless Claims Fall, Suggesting October’s Job Losses Were Just A Blip appeared first on Allwork.Space.

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Allwork

FEBRUARY 2, 2024

nonfarm payrolls far exceeded economists’ predictions of 185,000 jobs. Job gains were recorded in professional and business services, health care, retail trade, and social assistance, according to the BLS report. Additionally, December’s payrolls were revised to 333,000 from 216,000. ADP reported 5.2%

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Allwork

OCTOBER 7, 2024

Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months by five percentage points to 15%, following the latest employment report that showed better-than-expected data. before the report, CME Group’s FedWatch tool showed. economist Jan Hatzius said in a note on Sunday.

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OCTOBER 17, 2024

The claims report covered the week during which the government surveyed employers for the nonfarm payrolls component of October’s employment report. Economists expect Federal Reserve officials won’t place too much weight on the employment report when they meet in early November. 5, the claims report showed.

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BMT Office Administration

OCTOBER 6, 2022

However, Payroll teams are busy preparing for a different season — year-end reporting. You can be penalized for filing W-2s, 1099s, and 1095s on which you report incorrect Social Security numbers. For 1095 reporting by self-insured group health plans, you can also be penalized for not reporting employees’ dependents’ SSNs.

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Allwork

OCTOBER 10, 2024

The roughly 33,000 machinists at Boeing who walked off the job last month could negatively impact October’s employment report, which is due to be released days before the Nov. Nonfarm payrolls increased by the most in six months in September with the unemployment rate falling to 4.1% 28, the claims report showed.

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BMT Office Administration

MAY 25, 2023

It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. Zoom in for the payroll picture The IRS calls withholding voluntary, although your employees may beg to differ. Payroll is compliance-oriented; there’s very little wiggle room to be creative.

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OCTOBER 1, 2024

This marked the first reduction in borrowing costs since 2020 , an economic move intended to improve economic activity across the U.S. Attention now shifts to the upcoming employment report for September, which economists believe will provide more clarity on the labor market’s current trajectory.

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Allwork

JULY 2, 2024

ADP payroll data shows that since the onset of the COVID-19 pandemic, the share of “cross-metro” remote workers employed at large firms in the U.S. Workers at a satellite office reporting to a manager at headquarters could fall in this category, for example, as could a local store or factory manager reporting into the regional center.

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Allwork

OCTOBER 29, 2024

Job openings, a measure of labor demand, dropped by 418,000 to 7.443 million by the last day of September, the lowest level since January 2021, the Labor Department’s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Economists polled by Reuters had forecast 8 million job openings.

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SEPTEMBER 5, 2024

CNBC reports that the drop in job openings represents a decline of 237,000 positions from June’s revised figures. Layoffs have also risen, reaching 1.762 million — the highest since March 2023. The data reflects a consistently cooling labor market and only adds to worries about economic stability and the broader challenges facing the U.S.

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BMT Office Administration

MAY 30, 2022

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

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BMT Office Administration

MARCH 17, 2023

A close call The FDIC announced Monday that it would protect all deposits, which means employers should have no problem making their payrolls. Explore whether it’s possible to switch your payroll accounts to another bank. So employees are probably going to have questions about the security of your payroll processes.

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Allwork

AUGUST 1, 2024

The Wall Street Journal reports that following the Fed’s two-day meeting, Powell suggested that a rate reduction is increasingly probable, stating, “The broad sense of the committee is that the economy is moving closer to the point at which it will be appropriate to reduce our policy rate.” in the second quarter.

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MAY 2, 2024

million in the previous month. According to a report published by Bloomberg , the March 2024 figures came in lower than economists’ expectations, with the 8.49 JOLTS report provides insights for the overall U.S. The data, released on May 1, revealed that available positions decreased to 8.49

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SEPTEMBER 25, 2024

companies reliant on East and Gulf Coast seaports are racing to find logistical workarounds ahead of a looming strike by the International Longshoremen’s Association (ILA) union. Reuters reports that the potential strike , set for October 1, threatens to disrupt critical sea routes and cripple key economic sectors just weeks before the U.S.

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BMT Office Administration

MAY 13, 2022

the American Payroll Association’s director of government relations. Speaking at the American Payroll Association’s 40th Annual Congress this week in Las Vegas, Jacobson, Robert Wagner, Esq., and Mike Linehan caught attendees up on today’s hot payroll -related regulatory issues. This keeps Payroll in the loop.

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BMT Office Administration

JUNE 16, 2023

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Are there special reporting requirements? Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen.

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OCTOBER 29, 2024

Banks surveyed by the Dallas Fed immediately after the Fed’s rate cut reported that loans continued to decline, but they also turned sharply more bullish on the outlook. Having rates come down will be helpful.” Landscaper Brown says he will wait until rates drop at least another half of a percentage point before seeking refinancing.

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Success

OCTOBER 22, 2024

Tasks such as sorting through important emails, tracking data and generating reports—activities that often consume significant portions of employees’ workdays—are poised to become relics of the past.

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JULY 11, 2024

Reuters reports average weekly earnings from February to April 2024 were 5.9% Analysis from the Bank of England (BoE) suggests that workers in the U.K. may have seen faster wage increases than official data from early 2024 previously revealed. higher than the previous year. Although this is a decrease from the 8.5%

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AUGUST 4, 2023

from the same period last year. Bloomberg reports that the unemployment rate continues to hover near historical lows, and workforce participation maintains a steady rate of 62.6%. payrolls report is a key indicator of economic health, and slower job growth could be an early sign of an economic slowdown.

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OCTOBER 3, 2024

That increase, however, has not so far been paralleled by other data measuring job losses, such as the Labor Department’s weekly report on filings for unemployment benefits. The Challenger report comes ahead of the monthly nonfarm payrolls report due Friday from the Bureau of Labor Statistics.

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APRIL 5, 2023

year-over-year, as noted in the March ADP National Employment Report. However, pay growth has slowed for those who stay in their jobs and those who switch, with pay gains for job stayers falling from 7.2% What’s going on: In March, the private sector added an impressive 145,000 jobs, while annual pay rose 6.9%

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JUNE 2, 2023

What’s going on: The latest Employment Situation report , released by the Bureau of Labor Statistics (BLS), reveals that the U.S. The report reveals that the unemployment rate rose by 0.3 job market experienced growth in May. This unexpected boost in job creation suggests a stronger economy. percent to 3.7 percent.

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MAY 5, 2023

What’s going on: In April 2023, the United States experienced better-than-expected job growth, with 253,000 nonfarm payrolls added to the economy, according to CNBC. This number exceeded the predictions made by Wall Street, which had estimated that only 180,000 jobs would be created.

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JANUARY 6, 2023

Despite a slowdown in payrolls last month, unemployment once again fell in December. . According to the most recent Bureau of Labor Statistics report, the U.S. added 223,000 jobs in December, surpassing the Dow Jones forecasts of 200,000. .

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JULY 6, 2023

saw an increase of 497,000 jobs, according to an ADP National Employment Report. The report, produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, uses anonymized payroll data from client companies served by ADP to provide a comprehensive picture of the labor market.

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DECEMBER 2, 2022

Labor Department’s latest jobs report shows that the country added 263,000 nonfarm payrolls in November, exceeding economist expectations. . The leisure and hospitality industries led the pack in job growth with 88,000 new positions, followed by healthcare and government.

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OCTOBER 16, 2024

Wellhub, a corporate wellness platform that connects employees to the best partners for fitness, mindfulness, therapy, nutrition, and sleep, today released its 2025 State of Work-Life Wellness Report , revealing new data on employee wellbeing, including which benefits best support employees and how holistic wellness impacts the employee experience.

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