It Should Be Clear That Financial Markets Are Heading Towards Disaster
April 5th, 2013
The Scary Thing Is That This Bad Jobs Report Wasn’t Even About The Sequester Which Hasn’t Even Kicked In Yet.
The March jobs report has come in very mediocre.
It’d be nice to blame the sequester (the automatic spending cuts that started in March) but it doesn’t even appear to be about that.
A series of tweets from WaPo’s Zachary Goldfarb points out that this really more likely to be about the expiry of the Payroll Tax Holiday (as the job losses fell in the retail sector) rather than the sequester (seeing as there was not a big decline in professional services).
Zachary A. Goldfarb @Goldfarb
This jobs report is more a story of the impact of the payroll tax hike than the sequester.