The July jobs report was just released, and it flies in the face of Trump’s nonstop “America is the hottest economy in the world!” bantering. Employers added only 73,000 jobs, and worse, the job reports from the previous two months were revised to show radically lower hiring than previously reported.
The government previously reported that 147,000 jobs were added in May and 125,000 jobs were added in June. They have now revised those numbers to 14,000 and 17,000 respectively. This is unheard of. Had they reported accurately two months ago, the stock market would be in shambles right now. One has to wonder if there was some sort of cover-up to bolster the “liberation day“ narrative.
But wait. Isn’t an addition of 73,000 jobs in July good news? Not really. Of the 73,000 jobs that were added, the vast majority of them are in sick care, hospice care, home pallative care, and social work, signaling once again that Americans are sick and getting sicker all the time—and those who are awake know why. (psst it starts with a V)
If all this wasn’t bad enough, 264,000 workers left the workforce in July unemployment rose to 4.2%. That is a whole lot of people out of work suddenly. Of course, this will have a massive impact on the economy.
More from CNBC:
“The household survey, which is used to compile the unemployment rate, was even worse than the establishment survey of total payrolls gains. That showed a decline of 260,000 workers, with the participation rate edging down to 62.2%, the lowest since November 2022.
A more encompassing unemployment indicator that includes discouraged workers and those holding part-time positions for economic reasons rose to 7.9%, its highest since March.
In addition, long-term unemployment heated up. Average weeks unemployed jumped to 24.1, the highest level since April 2022, while the level of those out of work for more than 27 weeks to 1.82 million, the most since December 2021.
The report comes with questions rising about firms’ willingness to hire in the face of ongoing trade negotiations and escalating tariffs.”
That last paragraph is important. We have been saying all along companies will pull back hiring due to the $150 billion they have had to pay in Trump tariffs. We guaranteed this would happen. It will continue to happen, as will shrinkflation and deterioration of product quality across-the-board.
The government keeps telling us that we have entered a “golden age” and America is the “hottest place in the world,” yet most economic indicators, and more importantly real life experience, screams the exact opposite. Trump inherited a pretty good economy that would have improved more with just some gentle tweaks. Instead, he took a baseball bat to it, and we are now paying the price.
One thing is for sure, you can’t judge the economy based on how the stock market is doing. The stock market is being held up by energy stocks, AI tech stocks, healthcare stocks, none of which actually benefit the American people, product prices, and our way of life. Stay tuned to this station for the truth. We will tell you what’s really going on— as well your pocket book. As always, don’t believe the hype. 
