In a press release, payroll software provider Paycom cited a commissioned EY analysis estimating companies spend an average of $339 to correct each payroll error, an inflation-adjusted figure up nearly 20% from EY's 2022 findings. Respondents reported payroll errors in 1 of 5 payrolls. Time, attendance and expense issues are the most common, occurring 1,139 times annually per 1,000 employees and costing an estimated $289,722 per 1,000 employees each year. Missing or incorrect time punches are the costliest error at $93,600 per 1,000 employees and take about 440 hours annually to resolve. The figures are based on a survey of more than 500 payroll respondents at US companies with 250 to 10,000 employees.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on aol.com ↗
Related news
- Social Security recipients to get 3.6% cost-of-living boost, an average of $75 per month
The Social Security Administration projects a 3.6% cost-of-living adjustment from 2027, adding about $75 per month for nearly 72 million benefit recipients and about 7.3 million Supplemental Security Income beneficiaries. Many recipients say this is not enough, as the consumer price index rose 3.7% in September from a year earlier and gas prices spiked amid renewed fighting between the US and Iran. Some retirees worry that Medicare Part D premiums and drug costs will rise once a temporary subsidy program ends, and an AARP poll found about three-quarters of those 50 and older disagreed that a 3.5% COLA in 2027 would keep up with prices. The June 2026 trustees' report projects that Social Security's combined trust funds will be unable to pay full benefits starting in 2034, when incoming revenue would cover about 83% of scheduled benefits. Senators Warren and Moreno have proposed lifting the payroll tax cap to raise revenue.
- Social Security recipients to get 3 . 6 % cost of living boost , an average of $75 per month
- Companies Scramble to Meet Payroll , Pay Bills After SVB Swift Failure
- Social Security cost-of-living adjustment for 2027 may be above average. Some say it's not enough
Experts estimate the 2027 Social Security cost-of-living adjustment (COLA) could reach 3.5% to 3.6%, the largest in three years, though the official figure will depend on the latest inflation data. An AARP survey of 1,023 adults aged 50 and older found 76% think a 3.5% increase would not be enough, and many worry about rising Medicare costs. The Medicare Part B standard premium is projected to rise from $202.90 to $209.50 a month in 2027, which could eat into the increase. The Senior Citizens League estimates a 3.5% COLA would raise the average benefit by $67.90 a month, to about $2,008 from $1,940. The Trump administration is also sending one-time $90 payments to more than 20 million Medicare Part B enrollees.
- Iran War Has Cost Nearly $2,000 Per US Household: Moody's Top Economist
Moody's Analytics chief economist Mark Zandi estimates the Iran war, which began February 28, has cost the average U.S. household nearly $2,000, or about $265 billion nationwide. Of that, roughly $1,100 comes from higher energy and transportation costs, $540 from higher interest rates and $360 from military spending, and energy costs are still rising by about $50 per household each week. The White House responded that Zandi is a Democratic donor who is often wrong. Other estimates are lower: Brown University puts consumer costs at $133.3 billion (about $1,018 per household), and the Congressional Budget Office put military costs at $38.1 billion through August 1.
- Iran War Has Cost Nearly $2 , 000 Per US Household : Moody Top Economist
Moody’s Analytics chief economist Mark Zandi estimated on Oct. 12 that the Iran war has cost the average U.S. household nearly $2,000 since it began, or about $265 billion nationwide. He attributed roughly $1,100 to higher energy and transportation costs, $540 to higher interest rates and $360 to military spending, and said energy costs are still rising about $50 per household each week. Other estimates cover narrower scopes: Brown University puts consumer costs at $133.3 billion (about $1,018 per household), and Defense Secretary Pete Hegseth has testified to about $37.5 billion in direct military costs. White House Principal Deputy Press Secretary Anna Kelly dismissed Zandi as a Democrat donor who is frequently wrong. U.S. and Israeli strikes on Iran began Feb. 28, and the Congressional Budget Office estimated military costs through Aug. 1 at $38.1 billion.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.