23 annotations
The macroeconomic and labor market remains challenging for small and midsized businesses.
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2024 Q3
6 Apr 24
Client retention for the third quarter was also in line with pre-pandemic levels.
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2024 Q3
6 Apr 24
The demand for our HR technology and advisory solutions remains robust, and the volumes of new clients added in the quarter were strong.
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2024 Q3
6 Apr 24
The softening in hiring we started to see in the second quarter continued in the third quarter.
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2024 Q3
6 Apr 24
Our small business employment watch continues to show moderation in both job growth and wage inflation
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2024 Q3
6 Apr 24
Our clients tell us they still can't find qualified employees and are not willing to hire just anyone at higher wage rates, especially in areas with recent minimum wage increases and aggressive legislative changes.
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2024 Q3
6 Apr 24
We put nearly $90 billion of financial aid into the hands of our clients. And based upon an analysis by MIT, we estimate that we saved over 300,000 small business jobs.
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2024 Q3
6 Apr 24
moderation of employment growth
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2024 Q3
6 Apr 24
our decision to wind down the ERTC program based upon the recent legislative developments
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2024 Q3
6 Apr 24
Excluding this impact, our total revenue growth accelerated to 7% in the quarter.
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2024 Q3
6 Apr 24
Total revenue growth of 4% in the third quarter reflected a lower contribution for our Employee Retention Tax Credit, or ERTC service, as compared with the prior year period.
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2024 Q3
6 Apr 24
Our small business employment watch continues to show moderation in both job growth and wage inflation, which is indicative of a stable macro environment
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2024 Q2
23 Dec 23
SMBs are still challenged with access to capital, the high cost of capital, inflation and macro uncertainty.
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2024 Q2
23 Dec 23
While we haven't seen any normal signs of a recession in our data, we started to see some softening in seasonal hiring in the quarter, particularly in our large client segments
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2024 Q2
23 Dec 23
people are going and working more, working in more places, getting more checks, that's positive for our business
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2023 Q2
26 Dec 22
58% of adults are looking at potentially adding a second job we are beginning to see people getting checks at two different places
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2023 Q2
26 Dec 22
the more people that are employed, the more people that are getting checks, the better
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2023 Q2
26 Dec 22
Not really. I don't see that.
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2023 Q2
26 Dec 22
And it typically doesn't have a big impact on their appetite to buy attachments or spend more with you guys?
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2023 Q2
26 Dec 22
in general, the wage rate does not have a big impact on our revenue
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2023 Q2
26 Dec 22