Tag: Wages

Small Business Hiring and Wages Look Mixed in September

Joe Raedle / Getty ImagesSmall businesses are often collectively referred to as the backbone of the U.S. economy. While the stock market managed to recapture all of the losses from February and March and hit new all-time highs recently, the stock market does not represent the small business sector. One critical view of small businesses is the trend on wages and hiring.

According to IHS | Markit, small businesses represent nearly 95 percent of all U.S. employers. This group tracks the number of people who are employed by small businesses and they track the wages that are being paid. The Paychex | IHS Markit Small Business Employment Watch was released on September 29, 2020 and the full report has some improvements that should still probably be interpreted as a mixed report since the data are not universally better.

Average hourly earnings at small businesses has still managed to rise

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US plan to hike wages of skilled work visa holders to hit applicants with H-1B visas

The US Department of Labour’s proposal to increase wages of skilled work visa holders, could result in a sizable reduction in future visa applications and could eliminate mid-level jobs for H-1B visa holders.

The White House budget office is reviewing a fast-track regulation that would narrow the definition of a “speciality occupation” eligible for a skilled-worker visa under the H-1B program, according to the budget office website. The wage increase could be around 20 per cent. In the US, skilled visa workers are classified into four categories and L2 is the mid-level job category. Currently, according to industry estimates, 60-70 per cent of the visa holders are in the L2 category. “Entry and mid-level jobs will be history if this goes through,” said Prashanthi Reddy, New York-based immigration lawyer.

Visa applications may be hit

Industry watchers also estimate that there would be a drastic reduction in visa applications. “It could

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Immediate Announces New Integration With Visa Making Earned Wages Available to Workers in Real-Time

Users of Immediate’s earned wage access app can now receive already earned funds on-demand, 24/7/365

BIRMINGHAM, Ala., Sept. 16, 2020 /PRNewswire/ — Immediate, a financial wellness company, today announced a new integration with Visa that will allow hourly workers and users of its earned wage access services to receive requested funds directly onto an eligible debit card in real-time1 through Visa Direct, Visa’s real-time push payments platform. Any eligible existing Visa debit card can be linked in the ImmediatePay app, enabling users to transfer and use money on the card in real-time.

(PRNewsfoto/Immediate)

Immediate aims to improve the financial well-being of millions of Americans by providing on-demand access to earned wages, working directly with employers to make this benefit available to employees. Through Immediate’s financial institution and the integration of Visa Direct, employees who use the service can now add a Visa debit card to their

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