US wages rise as economy strengthens in early 2023
U.S. workers saw total compensation climb 0.9 percent in the January-March quarter, the largest gain in over 13 years, while consumer spending rose 4.2 percent in March. The data point to stronger hiring and pay as the economy reopens, though COVID-19 concerns, child care, and unemployment benefits aid keep some workers sidelined. The figures come from the Labor Department’s Employment Cost Index and Commerce Department estimates.
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Washington
U.S
Labor Department
Commerce Department
Weather Summary and Dated Precipitation Report
The report notes UV conditions and precipitation. 24 hour total ending 3 p.m. shows trace, month to date 1.58 inches, year to date 4.68 inches with normals 2.96 and 9.09 respectively. The entry emphasizes higher UV risk and ongoing rainfall metrics.
Biden seeks 21 percent global tax to curb corporate avoidance
Biden outlines a plan to raise taxes on corporations and curb tax avoidance by multinational firms. A 21 percent minimum tax on foreign earnings would target offshore profits, while a higher 28 percent corporate rate is proposed. The measure includes $80 billion more for the IRS and a crackdown on shifting earnings to tax havens.
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Matthew Gardner
Institute On Taxation and Economic Policy
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Roundtable
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Neil Bradley
U.S
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Treasury
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United States
Andrew Harnik
POOL
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