payroll tax

Steady Jobs Growth Eludes Older Workers

Posted on 02/1/2013 by |Money and Work | Comments

Bulletin Today | WorkOlder job seekers may feel like they’re scaling Mount Everest in pursuit of work. Employers added 157,000 jobs to their payrolls in January but the unemployment rate for older workers climbed just one-tenth of 1 percent to 6 percent, the government reported Friday. For men 55 and older, the jobless rate remained at 6.2 percent for the second straight month. But to illustrate the challenges they face in landing a job, consider their unemployment rate one year ago — it was …

When This Holiday’s Over, Will Your Taxes Go Up?

Posted on 11/27/2012 by |Washington Watch | Comments

Bulletin Today | PoliticsIf Washington’s politicians can’t reach a deal to avert the fiscal cliff, the temporary payroll tax cut passed two years ago as an anti-recessionary measure could evaporate — and with it, starting in January, a percentage of your take-home pay. The payroll tax holiday cut the employee contribution from 6.8 percent of wages to 4.8 percent. That may not sound like much, but it adds up to $125 billion less in income for families, according to Michael Feroli, a JPMorgan …