article thumbnail

Despite Continued Layoff News, Latest Data Shows Resilient U.S. Job Market

Allwork

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%

Payroll 218
article thumbnail

Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

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. From the implementation of SECURE 2.0

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

U.S. Job Market Surges in September with Service Industry Leading the Charge

Allwork

job market experienced growth in September 2023, defying expectations amidst rising interest rates and political challenges. Bureau of Labor Statistics , nonfarm payrolls surged by 336,000 — significantly surpassing the Dow Jones estimate of 170,000. This growth is the most substantial since January and shows the resilience of the U.S.

Payroll 144
article thumbnail

Strategies For Success In Senior HR Roles In The Future Of Work

Allwork

Once collected, the modern CHRO can use several techniques to interpret it, like statistical analysis and data visualization. During the 2023 WSJ Job Summit , top HR chiefs sat down and tackled the role of modern CHROs in addressing employee mental health in the workplace. Essentially, the traditional CHRO was reactive.

Payroll 293
article thumbnail

Business finance: The ultimate guide for non-finance people

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. Businesses have to incur lots of expenditures just to operate, including payroll , acquiring assets like vehicles & real estate, and day-to-day expenses (like a restaurant maintaining their inventory of condiments, food ingredients, and beverages).

Finance 105
article thumbnail

How to handle remote employee time tracking

BMT Office Administration

Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. While time clock software offers no way to track progress on individual tasks, it does provide an organized way to track your team’s billable hours for payroll purposes. #5: Prior to 2020, only 6% of all employees worked remotely.

Payroll 52