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Deutsche Bank’s Joe LaVorgna tracks payroll tax receipts as a measure of real-
time labor market health [see an earlier article on that chart and a host of others here] and the latest data for the current quarter show receipts growing 6% year-over-year. [It brings into question all those purveyors of doom who claim that a recesssion is just around the corner.]
So says Mamta Badkar (www.businessinsider.com) in edited excerpts from the original article*.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Badkar goes on to say:
By no means is the economy booming, but continued labor income growth similar suggests that a recession is not imminent. We will be watching to see if the upcoming employment data corroborate this view. [Below is said chart:]
Take Note:
*http://www.businessinsider.com/chart-of-the-day-tax-receipts-suggest-recession-isnt-imminent-2012-7#ixzz210mAce1a (To access the above article please copy the URL and paste it into your browser.)
Editor’s Note: The above article may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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