The taxes that employers collect from their employee’s paychecks are commonly referred to using three different names: payroll taxes, FICA taxes, and withholding taxes. On this site we use the term “withholding” because that’s what the U.S. Treasury department uses on their “Daily Treasury Statement” reports.
The payroll-tax data is unique because it is the only economic data published daily, and thus gives us an invaluable, real-time look at employment trends in the national economy. Read more here.