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The economy lost 23k jobs in July
Posted on 8/7/26 at 8:54 am
Posted on 8/7/26 at 8:54 am
Headline number looks not great.
But only 2 areas lost jobs.
government jobs were down 53k
Leisure and Hospitality were down -40k
unemployment dropped to 4.1%
So, people are dropping out of the labor force
Possible reason could be the amount deportations.
Stocks and bonds loved the number. Both are higher today as it likely takes the chance that the FOMC raises rates out.
But only 2 areas lost jobs.
government jobs were down 53k
Leisure and Hospitality were down -40k
unemployment dropped to 4.1%
So, people are dropping out of the labor force
Possible reason could be the amount deportations.
Stocks and bonds loved the number. Both are higher today as it likely takes the chance that the FOMC raises rates out.
Posted on 8/7/26 at 9:04 am to bbvdd
I read somewhere that when unemployment benefits stop you are then also removed from the "unemployed" pool. I dont know if that is valid or not but could be also something to consider with the number drop.
Either way K shaped economy doing what it does. I am trying to figure out what right now Republicans can hang their hat on for the midterms outside of were not Democratic Socialists at least
Either way K shaped economy doing what it does. I am trying to figure out what right now Republicans can hang their hat on for the midterms outside of were not Democratic Socialists at least
Posted on 8/7/26 at 9:10 am to 50_Tiger
quote:
Either way K shaped economy doing what it does. I am trying to figure out what right now Republicans can hang their hat on for the midterms outside of were not Democratic Socialists at least
Short of some kind of mass revolution, this country is beyond cooked.
The USA is becoming a playground for the rich subsidized by cheap, foreign labor.
This post was edited on 8/7/26 at 9:13 am
Posted on 8/7/26 at 9:10 am to bbvdd
quote:
government jobs were down 53k
Good
Posted on 8/7/26 at 9:10 am to bbvdd
quote:
government jobs were down 53k
This is a good start but let’s add another “zero” to this figure.
Posted on 8/7/26 at 9:11 am to 50_Tiger
We’re owning liberals on the internet. Isn’t that enough
Posted on 8/7/26 at 9:12 am to 50_Tiger
quote:
I read somewhere that when unemployment benefits stop you are then also removed from the "unemployed" pool. I dont know if that is valid or not but could be also something to consider with the number drop.
I don't know if that's valid either, but conservatives/Republicans used a similar argument when unemployment rate was declining under the Obama Administration. The argument was that the economy was so bad, unemployed folks stopped looking for work, and thus, were not counted amongst the unemployment rate.
So...can't really have it both ways. Either such arguments are valid, or they're not, no matter who is in the White House or in control of Congress.
However, to the OP's point about the kinds of jobs that were lost, which appears to have dragged the overall jobs numbers in July into the negative:
quote:
Government job losses pulled July’s numbers into negative territory. But private-sector hiring made a weak showing as well. Overall, private employers added just 30,000 jobs.
In a bright spot likely reflecting the boom in data centers, the construction sector added 22,000 jobs last month. Manufacturing gained 5,000. But leisure and hospitality employers cut 40,000 workers, while retailers shed more than 19,000 employees.
Private-sector education and healthcare jobs grew by 25,000, a relatively weak showing for what has been a big source of new jobs over the past year.
LINK
So...the unprofessional conclusion I've personally come to is this isn't a good jobs report, but it's not some doomsday, economy on the verge of a recession report either.
This post was edited on 8/7/26 at 9:17 am
Posted on 8/7/26 at 9:16 am to NIH
quote:
We’re owning liberals on the internet. Isn’t that enough
For most yes. They just want to be entertained.
Posted on 8/7/26 at 9:19 am to bbvdd
Unemployment numbers have been a lie for decades
Private equity, “AI”, and foreign investors using us as a giant LLC are destroying this economy long term
Private equity, “AI”, and foreign investors using us as a giant LLC are destroying this economy long term
Posted on 8/7/26 at 9:21 am to bbvdd
quote:
The economy lost 23k jobs
Good, this will lower the pressure to raise rates and lower treasury yields resulting in lower mortgage rates.
Posted on 8/7/26 at 9:23 am to bbvdd
quote:
But only 2 areas lost jobs.
government jobs were down 53k
Leisure and Hospitality were down -40k
Goverment DEI hiring programs halted and illegals deported.
Posted on 8/7/26 at 9:23 am to BulldogXero
quote:
I am trying to figure out what right now Republicans can hang their hat on for the midterms outside of were not Democratic Socialists at least
Well then you're a retard.
Posted on 8/7/26 at 9:24 am to bbvdd
U.S. unexpectedly loses 23k jobs in July but unemployment rate drops. How? It appears the entire labor force shift including the job loss was due to TPS ending and deportations.
Labor force shrank by 257k in a single month
Trump is getting into a Goldilocks zone of low monthly job gains but a strong unemployment rate. Where you want to be
Labor force shrank by 257k in a single month
Trump is getting into a Goldilocks zone of low monthly job gains but a strong unemployment rate. Where you want to be
Posted on 8/7/26 at 9:27 am to bbvdd
7th negative jobs month under Trump 2.0, sure is the golden age lol
Posted on 8/7/26 at 9:27 am to bbvdd
I saw a mention of prior months being revised down. Haven't had a chance to look up how much. The scapegoat for past revisions isn't around anymore snd the new guy hasn't been confirmed.
This post was edited on 8/7/26 at 9:28 am
Posted on 8/7/26 at 9:27 am to ragincajun03
May and June were revised downward by 103,000 jobs in total.
Posted on 8/7/26 at 9:30 am to Bonkers119
Well AI is more to blame than Trump
Our economy is a house of cards right now. we are being bled dry while capital and resources are being quietly moved to other countries.
Big money knows what’s up
Our economy is a house of cards right now. we are being bled dry while capital and resources are being quietly moved to other countries.
Big money knows what’s up
Posted on 8/7/26 at 9:32 am to bbvdd
quote:
unemployment dropped to 4.1%
So, people are dropping out of the labor force
Possible reason could be the amount deportations.
Even the BLS cant wrap their arms around this. They capture "foreign born workers" in a survey, but Im certain there are millions who arent being captured in this method.
I keep saying, illegals with a ss# working for a company are captured in the BLS employment numbers. if 60% are employed, and over 3 million have gone home, thats hundreds of thousands of jobs lost in the survey.
Know how I know this is true, with the exeception of the last month or two, every month of Trump's term there has been real wage growth, wages are increasing faster than inflation. That simply does not happen in a soft labor market where there are innumerable bodies available fighting for jobs.
Conversely, under biden's last year of booming jobs, we now know were corrected by a million jobs, every month there was erosion and negative real wage growth.
Posted on 8/7/26 at 9:34 am to theunknownknight
quote:
Well AI is more to blame than Trump
AI as in Another Indian or AI as in Artificial Intelligence?
Or quite frankly both.
Posted on 8/7/26 at 9:37 am to 50_Tiger
One and the same at this point, I agree
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