Employment data

Employers dampened their hiring amid worries over banking failures and interest rate hikes.

Small businesses did a bit more hiring and paid workers more last month, according to a report from payroll provider Paychex.

The jobs numbers beat analyst expectations, but the unemployment rate rose two-tenths of a point to 3.6%.

In its latest report, payroll giant ADP noted that some slowdowns are occurring, with job losses in professional and business services.

The rate of growth in both jobs and wages slowed from January, according to a new report from Paychex.

The latest jobs report shattered expectations as the unemployment rate dipped one-tenth of a percentage point to 3.4%, the lowest rate since 1969.

Private sector payrolls grew by 106,000 jobs, even though many companies laid off workers, while annual pay increased 7.3% year-over-year, according to ADP.

Hourly wage growth at small businesses dampened this month, even though the pace of hiring remained strong.

The unemployment rate ticked downward by two-tenths of a point to 3.5%, but employment in accounting and bookkeeping services fell slightly.

Annual pay rose 7.3% year-over-year, ADP reported, although larger companies actually subtracted jobs.

Hourly earnings growth slowed last month to its weakest level since March of last year.

The best firms are currently securing independent contractors to assist during the 2023 busy season and beyond.

Worrisome job losses occurred in a number of sectors, including professional and business services.

Hourly earnings and hiring slackened at small businesses, although workers put in more hours, boosting their weekly pay, Paychex reported.

Hourly earnings growth at small businesses declined to its lowest level since over a year ago, while hiring also slowed, according to a report from Paychex.

The economy gained 315,000 jobs last month, the U.S. Bureau of Labor Statistics reported Friday, although the unemployment rate inched up two-tenths of a point to 3.7%.

Hiring in professional and business services and financial activities appears to be slowing.

Hourly earnings grew at small businesses this month, but the pace of job growth slackened.

The unemployment rate fell one-tenth of a point to 3.5%, a level not seen since before the pandemic.

Small businesses kept adding jobs and increasing wages amid the tight labor market last month, but the pace declined from May, according to payroll company Paychex.