The nation added just 96,000 jobs in August as the unemployment rate dipped to 8.1 percent as 581,000 people left the labor force, the Bureau of Labor Statistics reported Friday.
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It doesn’t matter whose team makes more money, the total revenue is divided evenly by 32, setting the salary cap for each team. (So, there should no longer be any complaining about how your team is in a small market and can’t get the top guys to come to town.) Currently, the players rake home an approximate 57% share of total revenue. The share was higher – in the low to mid 60s – when using the DGR system, but even with a lower percentage, it results in an increased salary cap due to the larger starting revenue pool. With seemingly no limits to the popularity of the NFL and because television contracts are always increasing, so is the salary cap. The cap started at roughly million in and years later it has increased itself more than threefold to over million per apprentice plumber team per season.
The unemployment rate fell to the lowest since April, but remained above the election-critical 8.0 percent. At the same time, July’s job gains originally reported at 163,000 were reduced to 141,000, while June’s job numbers dropped to 45,000 from 87,000.
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700,000 Defense Department civilians are expected to take one day off a week 14 weeks in the coming months, which amounts to 14 unpaid days. 480 workers in Obama’s staff have been notified they will have to take unpaid days off.
Another important aspect of the NFL salary cap to remember is that it’s unbreakable, and no team is above its law. In the NBA, you can go above the salary cap if you’re willing to pay a so called “luxury tax”. In the NFL, there are no ifs ands or buts about it, the cap is the cap. But…
The industry participants driving the most movement over the second quarter include Citigroup and MetLife. Citigroup posted the greatest net gain with 637 jobs added in the second quarter, while MetLife posted the greatest net loss with 1,090 jobs lost in the second quarter.