New Deal democrat Weekly Indicators for January 8 – 12 2024
Weekly Indicators for January 8 – 12 at Seeking Alpha
– by New Deal democrat
My Weekly Indicators post is up at Seeking Alpha.
There are almost always a few interesting ripples in the pond. In the past month, notably there has been the sudden collapse in YoY tax withholding payments. I’m not too concerned yet, but if it goes on much longer, it would portend some serious employment weakness.
Another such ripple, among the long leading indicators, is that the spike in corporate earnings in Q3 (remember the stellar GDP report?) has completely reversed in Q4, at least according to earnings estimates as they stand now. This could sharply reverse as actual earnings are reported; but usually by now the estimates are already being revised higher. Not happening so far this quarter.
As usual, clicking over and reading will bring you up to the virtual moment as to all the data, and reward me a little bit for my efforts.
Didn’t “withholding” start out as an employer courtesy, participation voluntary?
Did something change at the start of the year? I’m hearing reports from the field ~ my sons and nephews building houses ~ of complaints, of little annoying changes but because I’ve retired and am not in it anymore am not hearing them directly. Best I can gather is there’s been a change in the reporting timeframes? A change in the submission dates?
Ten Bears:
I was nosey and did a serach to see what I could find on Federal Tax Withholding. I could not find anything other than out-of-state withholding for people who lived in one state and worked in another state.