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Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

KEY POINTS Nonfarm payrolls rose by 4.8 million in June, much better than the expected increase of 2.9 million. The unemployment rate fell to a crisis low of 11.1%, also better than the 12.4% estimate. Those on temporary layoff fell by 4.8 million in June...

06 July, 2020

President Trump Signs Paycheck Protection Program Extension

CNN - President Donald Trump on Saturday signed an extension of the small business loan Paycheck Protection Program into law, according to the White House. House lawmakers unanimously passed the extension less than a day after the program expired, and PPP will now remain open to applications through August...

06 July, 2020

Some of our employees have said they don’t feel safe returning to work. Can we just permanently replace them? What other options do we have?

We recommend caution when deciding to replace an employee who refuses to work because of concerns about COVID-19. Here are few things to keep in mind: Recalled employees may have a right to job-protected leave under a city ordinance, state law, or the federal...

03 July, 2020

Making the Workplace a Safe Place to Speak Up

Right now, organizations across the country are asking themselves what they can do to make their workplaces more inclusive, diverse, and equitable, particularly for Black employees. They’re hosting conversations, acknowledging areas where they’ve fallen short, and identifying opportunities for improvement. For these efforts to be successful,...

02 July, 2020

Excel For HR Functions vs. Payroll Partners Software

Most businesses use Excel for HR functions. And some use Excel for ALL HR functions. Excel is powerful, no doubt about it. Twenty-five years ago it was the only game in town. But there are better options today. Payroll Partners has solutions for all of your HR...

01 July, 2020

IRS Expands CARES Act Tax Breaks On Retirement Plan Distributions, Loans

The IRS expanded the number of taxpayers who qualify to tap into their retirement plans using the generous provisions of the CARES Act. The IRS also answered questions about details of distributions and loans under the CARES Act that have been asked by employers, employees,...

30 June, 2020

What PPP Loan Borrowers Should Consider When Choosing Between The 8 Or 24 Week Forgiveness Period

PPP borrowers and their advisors are scrambling to determine how to manage their businesses and expenses to best facilitate loan forgiveness to benefit their businesses and employees. These two objectives are sometimes at odds, and the new 24-week testing period election, which most borrowers can...

26 June, 2020

Supreme Court Rules in Favor of LGBTQ Employment Protections

The Supreme Court of the United States has ruled that employers may not discriminate based on sexual orientation or gender identity in employment. This decision affects all employers with 15 or more employees. The decision was a response to three separate cases, all of which were...

24 June, 2020

Updated Guide to PPP Loan Forgiveness

The U.S. Chamber has updated the Guide to PPP Loan Forgiveness. This guide reflects recent substantive changes made by Congress and the administration to the PPP program to provide borrowers with more flexibility. These changes include: Extending the time to spend PPP funds from 8...

23 June, 2020

Texas to Reinstate Work-Search Requirement for Unemployment Benefits

As COVID-19 continues spreading, the Texas Workforce Commission says out-of-work Texans will have to prove they are searching for work to receive unemployment benefits beginning July 6. Texans receiving unemployment benefits will once again have to prove they have searched for jobs or tried to reopen...

22 June, 2020