Third Quarter 2021 Data from the Quarterly Census of Employment and Wages: No Surprises–Strong Economywide Wage Growth in 2021
Posted on February 23, 2022 I see two takeaways from today’s preliminary and incomplete release of the 2021Q3 data on wages from the Quarterly Census of Employment and Wages (QCEW). First, the data on overall wage growth are lining up with what the corresponding National Income and Product Account (NIPA) data are showing (see chart […]
Quarterly Estimated Payments by Individuals Continued to Grow Robustly in January
Posted on February 2, 2022 Quarterly estimated payments by individuals of income and payroll taxes continued to move up sharply in January, following strong quarterly payments over the past year. Based on amounts reported by the U.S. Treasury Department in its Daily Treasury Statements, we estimate that total nonwithheld receipts rose from about $125 billion […]