The Wizards gave up more talent in the deal but gained payroll flexibility.
A slight net gain in payroll numbers in the service sector "negated" lower employment at factories.
With the ADP employment report boosting hopes of a firm gain for payrolls on Friday this suggests the US economic outlook is considerably brighter than for the Eurozone.
Overall, now that the weather-related weakness is behind us, we anticipate that the monthly gains in payroll employment will remain close to the 200,000 mark, driving the unemployment rate gradually lower and allowing the Fed to continue winding down its monthly asset purchases.
"All things considered, 165,000 isn't the biggest monthly gain in payrolls you'll ever see, but it's enough to assuage concerns that the economy had stalled again," Paul Ashworth, chief U.S. economist at Capital Economics, wrote in a note.
The Fair Tax Act is designed to replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a national retail sales tax on new goods and services.
It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales.
The average payroll gain for the first eight months of 2013 stands at 180,000.
He found support for that thesis in the underlying numbers, especially within the 200,000 gain in nonfarm payroll jobs.
