Withholding Growth in November: Down Slightly but We Shouldn’t Read Too Much into That
Posted on November 30, 2020 We measure that growth in economywide income and payroll taxes withheld from workers’ paychecks slowed just slightly in November compared to October’s rate of growth. Withholding registered a small 0.3 percent increase in October, relative to the amount in October of 2019, but then fell by 0.1 percent in November […]
Economywide Wage Data for 2020Q2 from the Quarterly Census of Employment and Wages: Inconclusive But Maybe Indicating a Slight Downward NIPA Revision?
Posted on November 22, 2020 Every three months the U.S. Bureau of Labor Statistics (BLS) releases quarterly data on employment and wages for the quarter ending about five months before, so a bit of a lag. We pay attention to those data from the Quarterly Census of Employment and Wages (QCEW) both because they are […]
Excise Tax Collections Are Back Below Year-Ago Amounts
Posted on November 14, 2020 Excise tax collections have been down and up since the pandemic hit, mainly down (see chart below). The movements have resulted from legislative and administrative changes, along with the economic contraction. Collections have moved back down in the past month following a temporary boost from payments of deferred alcohol and […]
Economywide Wages and Salaries Continued to Improve in October
Posted on November 7, 2020 If you’re interested in some non-election information, I invite you to read on. According to data released yesterday by the U.S. Labor Department’s Bureau of Labor Statistics (BLS), economywide wages and salaries continued to improve in October, albeit slowly. Total private sector wages and salaries were down by 0.9 percent […]