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Democrat Barack Obama says he would apply the Social Security payroll tax to all annual incomes above $250,000, which would affect the wealthiest 3 percent of Americans.

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Hello…I’m Evangeline Fabia, and welcome to EmploymentCrossing News. 79,000 private sector jobs were lost in the last week of June. And more than half of the job losses were from the manufacturing sector…where 44,000 layoffs occurred. The National Employment Report from Automatic Data Processing showed a 76,000-job drop for goods-producing businesses, the 19th monthly decline in a row, coupled with a 3,000-job decline in the services sector. Joel Prakken, chairman of Macroeconomic Advisers, which helps develop the report with ADP, says that “there was a softness throughout the report, no matter how you sliced it or diced it, but it’s not a recession-like decline.” The ADP report measures non-farming private employment based on payroll data. I’m Evangeline Fabia with EmploymentCrossing News. ### http://www.employmentcrossing.com

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