Withholding-Tax Collections Continue Moonshot in April

Interesting observation from DailyJobsUpdate.com:

The growth-rate of withholding-tax collections advanced from 6.28% in March to 6.95% for April. This is the strongest growth-rate since the payroll-tax cuts expired in 2013, and it became possible to do apples-to-apples comparisons again. You really couldn’t ask for a stronger number.

Last month’s non-farm payrolls report was surprisingly weak at only 98,000 new jobs. But in light of the continued strength in the withholding data, that 98,000 should be revised upward.

 

 


Source: DailyJobsUpdate.com

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