The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.
Accounting and bookkeeping shed over 67,000 jobs in the month of April, according to the Bureau of Labor Statistics.
COVID-19 wiped out most of the jobs gained since the 2008-09 recession despite extensive tax cuts and stimulus payments from the IRS.
Payroll giant Paychex is partnering with Biz2Credit, Fundera and Lendio to help small businesses apply for the new funding offered by the U.S. Small Business Administration’s Paycheck Protection Program.
Small businesses that had been experiencing steady job and wage growth prior to the outbreak of the coronavirus pandemic are seeing that situation change, according to figures from the payroll giant Paychex.
The coalition proposed the federal government set up and fund a central payroll account for small-business payroll processors to use to direct funds to small businesses to keep paying employees.
Banks are boosting their benefits, paying bonuses to front-line employees, extra paid time off for those who are sick or self-quarantined, financial assistance with child care and access to virtual doctors’ appointments.
The job gains were mainly at big companies and largely came before the outbreak of the coronavirus in the U.S.
The pace of small-business job growth accelerated for the third month in a row in February, according to payroll giant Paychex, but the rate of hourly earnings growth slipped.