Accounting
Private sector added 122K jobs in December amid signs of hiring slowdown
Annual pay grew 4.6% year over year as private sector employers added 122,000 jobs in December, payroll giant ADP reported Wednesday.
That represents a hiring slowdown from earlier in the fourth quarter after over 180,000 jobs were added in October, and a revised total of 152,000 in November, according to ADP chief economist Nela Richardson, speaking during a conference call with reporters.
The
Small businesses with between one and 19 employees lost 1,00 jobs, while those with between 20 and 49 employees added 6,000 jobs. Midsized businesses with between 50 and 249 employees lost 2,000 jobs, while those with between 250 and 499 employees added 11,000 jobs. Large establishments with 500 employees or more added 97,000 jobs.
Year-over-year pay growth for those who stayed in their jobs slowed to 4.6%, the slowest pace of gains since July 2021. In professional and business services, the rate was 4.5%. Pay growth for workers who changed jobs was 7.1%, a slight decline from November.
Richardson pointed to a recent pickup in job openings, according to the U.S. Bureau of Labor Statistics’ latest
“The labor market is still looking to attract workers,” she said. “Layoffs are still very, very low, and so what we’re seeing again is that balance.”
Workers are largely staying with their jobs, although a separate survey from ADP also found that worker sentiment is declining. ADP produces an
Taxpayers have an extra day, until Friday, Jan. 10, to file any return or pay tax originally due on Thursday, Jan. 9.
The IRS granted the time for the Jan. 9 National Day of Mourning for Jimmy Carter, the 39th U.S. president. He was the longest-lived president in history, dying December 29 at the age of 100.
The one-day extension also applies to any federal income, payroll or excise tax deposit due on Jan. 9, including those required to be made through the Treasury Department’s Electronic Federal Tax Payment System.
IRS Free File Guided Tax Software will be available this Friday for taxpayers ahead of the start of tax season later this month.
Starting Jan. 10, IRS Free File will begin accepting individual returns. Providers will generally allow taxpayers to prepare and file returns now and hold them for e-filing when the season starts.
Taxpayers can access free software tools at
“Taxpayers have multiple filing choices,” said IRS Commissioner Danny Werfel, in a statement, “including trusted tax professionals, tax software, Free File, Direct File or free preparation services through IRS partners.”
IRS Free File is entering its 23rd filing season and is delivered through a partnership between the IRS and Free File Inc. (formerly the Free File Alliance). Eight private-sector partners will provide online guided tax software products for taxpayers with an adjusted gross income of $84,000 or less in 2024. Taxpayers with an AGI above $84,000 can use the Free File Fillable Forms starting Jan. 27.
For 2025, the partners participating in IRS Free File are 1040Now, Drake (1040.com), ezTaxReturn.com (also in Spanish), FileYourTaxes.com, On-Line Taxes,TaxAct, TaxHawk (FreeTaxUSA) and TaxSlayer.
Enjoy complimentary access to top ideas and insights — selected by our editors.
Local governments and municipalities have been
In the Tax Foundation’s
The most competitive states are ranked from one to 10 according to their scores, one being the most competitive within the group and 10 being the least. For the states at the tail end of the spectrum, which are the least competitive in terms of sales and excise taxes, rankings are from 50 for the least competitive to 40 for the state with the highest comparative score.
Read on to see which states were the most — and least — competitive when it comes to these tax areas.
10 states with the most and least competitive sales and excise taxes in 2025
10 most competitive
10 least competitive
Missing quarterly tax payment could trigger ‘unexpected penalties’
Extra tax filing time granted for Carter remembrance
America’s bet on industrial policy starts to pay off for semiconductors
New 2023 K-1 instructions stir the CAMT pot for partnerships and corporations
The Essential Practice of Bank and Credit Card Statement Reconciliation
Are American progressives making themselves sad?
-
Economics1 week agoHomelessness rises to a record level in America
-
Personal Finance6 days agoHow to rebalance your portfolio after lofty stock returns in 2024
-
Personal Finance1 week agoAs ETF assets top $10 trillion for first time, here are trends to watch
-
Personal Finance1 week agoHere’s how to decide on the right student loan repayment plan for you
-
Personal Finance1 week agoHere are steps you can take to avoid overspending next holiday season
-
Economics1 week agoJimmy Carter reshaped his home town
-
Accounting5 days agoDepreciation of Assets and Key Strategies for Accurate Valuation
-
Finance7 days agoKen Griffin’s flagship hedge fund at Citadel climbs 15.1% in 2024