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This week payroll processor ADP said the US had added only 156,000 jobs in April, gains that were down against the previous month and offset by increasingly grim news from energy and tech sectors.
This week payroll numbers showed a net loss of 30,000 jobs in October, the worst result for the month since 1999 and well below the average market expectations of a gain of 56,000.Days before a kerfuffle broke out over a bill sent to Congress that would let Ms Rousseff in effect turn a primary fiscal surplus (before interest payments) of 1.9% of GDP promised in the 2014 budget into a deficit.
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Assuming that this payroll tax change would be in place in 2012, the payroll spending subject to the reduction would be the difference between the 2012 payroll and the 2011 payroll.
Employers with no payroll in 2011 could use 80 percent of their 2012 payroll for purposes of computing the credit.
We've had our hearts broken by the spring payroll numbers before, of course.
By 2009, payroll taxes generated more than six times as much revenue.
But that does not mean the 2013 payroll can balloon to any amount.
Because this part of the cut is based on the payroll difference, it makes expanding the 2012 payroll cheaper — presumably the intention of the law — but it makes it cheaper to contract the 2011 payroll.
The Yankees, for example, would pay about $78 million based on 2001 revenue and 2002 payroll.
But the Diamondbacks' success will lift their 2002 payroll over $90 million.
The Mets' investment in Santana should push their 2008 payroll into uncharted territory.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com