Wednesday, September 2, 2009
A glimmer of hope on the job front?
The Treasury is reporting that it collected $126.4 billion in employment taxes in August compared with $131.4 in July.
On the surface that looks like another weak month for the job market, however, you have to read between the lines on this one.
That's because July had 23 statement days and August had only 21. So the averge daily employment tax take for August actually exceeded the average daily take for July.
July employment taxes: $131.4 billion
August employment taxes: $126.4 billion
July average daily take: $5.71 billion
August average daily take: $6.02 billion
A glimmer of hope as we come up to Friday's number.
If you want to take a shot on a trade, buy Monster Worldwide or Korn-Ferry today. Both stocks have come off their highs.