Cullen Roche: FICA payroll tracker drops to lowest in 12 months

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FICA payroll tracker hits 12-month low

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Cullen Roche: FICA payroll tracker drops to lowest in 12 months — FICA payroll tracker hits 12-month low

Cullen Roche reports that the FICA Payroll Tracker has reached its lowest level in 12 months. Despite ongoing growth in the labor market, he observes that the pace of expansion remains very slow.

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Roche has previously highlighted changes in corporate fundamentals. He noted that S&P 500 companies now have shorter average lifespans, with the typical tenure falling from 30 years in the 1970s to 15 years today. In a separate article, he reported on Jeremy Grantham's major charitable giving and continued net long investments.

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