Oct

31

Jobs Data, from Bill Rafter

October 31, 2013 |

 For those of you interested in jobs data, this chart might be of interest.

The red line is very important, showing a 2 percent increase. Ceteris paribus the 2013 payroll tax receipts should average 2 percent above 2012. However as time has progressed, the government has received less and less of this increase, and the current receipts growths are running negative to the prior year despite the increase in rate. This is the Laffer Curve at work.

As of January 2014 the YOY growth will use as its base the tax-increased 2013 data, which should be interesting.


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