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PrimePay CEO touts Depot deal

BY HBSDEALER Staff

West Chester, Pennsylvania-based PrimePay has been as the payroll and tax services provider for the Home Depot Pro Xtra Loyalty Program.

PrimePay will serve the Pro Xtra program’s 1.7 million professional contractors and tradesmen across 2,200 stores nationally; providing a customized solution that will ensure accurate compensation; stringent record-keeping; and compliance with all federal, state and local tax laws, the company said. 

“The post-recession construction boom is driving new business and new challenges for the millions of contractors across the nation,” said William J. Pellicano, CEO at PrimePay.

Pellicano said about 12,000 pros join the Home Depot Pro Xtra program every week. The pros are “seeking new ways to ease the administrative burdens that accompany an uptick in business.”

Home Depot is currently upgrading the Pro Xtra program to offer members more exclusive business tools. PrimePay joins several carefully selected service providers as part of the Pro Xtra program’s new Professional Services offering, which includes services from payroll to digital marketing to OSHA safety.

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U.S. adds healthy amount of jobs in May

BY HBSDEALER Staff

Though the U.S. economy pushed an above-average pace in adding 217,000 jobs in May, unemployment stayed flat at 6.3%, its lowest level since November 2008.

Also significantly, the labor participation rate was virtually unchanged at 62.8% in May, as were the number of unemployed persons at 9.8 million.

Those who fall into the long-term unemployed category (jobless for 27 weeks or more) were similarly flat at 3.4 million. That number has declined by 979,000 over the past year.

Most of May’s jobs gains were concentrated in the professional & business services industry, as well as health care & social assistance.

Employment in construction, wholesale trade and retail trade showed little change over the month.

Manufacturing was relatively static, though its jobs gains over the past year now total 105,000. Most of that progress is thanks to the durable goods industry, which added 17,000 jobs in May.

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HCN Stock Watch: UFPI gets a boost

BY HBSDEALER Staff

Universal Forest Products (UFPI) stormed ahead on Thursday, gaining 3.49%. The rest of the industry didn’t fare too poorly either.

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