Michael Cohn

3 weeks ago | accountingtoday.com | Michael Cohn

Employment grew by 139,000 jobs in May, the U.S. Bureau of Labor Statistics reported Friday, while the unemployment rate remained unchanged at 4.2%. Employment continued to grow in the health care, leisure and hospitality and social assistance sectors, but the federal government continued to lose jobs as the Trump administration kept up its efforts to slash the workforce.

3 weeks ago | accountingtoday.com | Michael Cohn

DMJPS PLLC, a Regional Leader based in Greensboro, North Carolina, is adding Potter & Company P.A., a firm based in the Charlotte metropolitan region, effective July 1. Potter has offices in Monroe, Concord and Mooresville, North Carolina. Financial terms of the deal were not disclosed. DMJPS earned $32 million in annual revenue, while Potter had $8 million. The deal brings in 17 equity partners, with 12 from DMJPS and five from Potter. DMJPS has over 165 employees and Potter has more than 44.

3 weeks ago | accountingtoday.com | Michael Cohn

Hourly earnings growth for small business employees dropped to a four-year low at 2.77% in May, while job growth was flat, according to payroll company Paychex. The Paychex Small Business Employment Watch, which tracks U.S. business with fewer than 50 employees, found that three-month annualized hourly earnings growth fell to its lowest level in May (2.45%) since December 2020, when it was 1.66%.

3 weeks ago | accountingtoday.com | Michael Cohn

Private sector employment increased by only 37,000 jobs in May, payroll giant ADP reported Wednesday, down from a revised figure of 60,000 in April, while annual pay increased 4.5% year over year. The professional and business services sector, which includes accounting and tax preparation services, lost 17,000 jobs, although the financial activities sector, which includes banking,  gained 20,000 jobs. The goods-producing sector lost 2,000 jobs.

3 weeks ago | accountingtoday.com | Michael Cohn

Cherry Bekaert, a Top 25 Firm based in Raleigh, North Carolina, has acquired Spicer Jeffries LLP, a Denver-based firm with an extensive business in fund audits. Spicer Jeffries' clients include hedge funds, private equity firms, venture capital firms, commodity funds, mutual funds, registered broker dealers, investment advisors and other investment entities. The firm ranks among the top 10 hedge fund audit firms.