The economy lost 23,000 jobs in July when Wall Street expected a gain of 83,000 — a huge miss. The 50,000 education job loss makes sense, that&#x27;s just summer break, but the rest of the report is genuinely soft. This should keep the Fed from hiking rates anytime soon. The Senate passed the Lindsey Graham Russia sanctions bill 86-11 — his final legislative legacy, passed just hours after his funeral. Trump lost his ballroom fight today when an appeals court ruled he needs Congress&#x27;s approval, which he never got. He&#x27;s appealing to the Supreme Court. And weeks after the Supreme Court told him he can&#x27;t ban birthright citizenship, he&#x27;s trying again with two new executive orders. This guy does not lose easily. All of it today.<br><br>Become a supporter of this podcast: https://www.spreaker.com/podcast/the-tom-sullivan-show--6632619/support.<br><br>Remember to call with your money and investing questions 855-295-6600 for the Financial Friday podcast. https://www.spreaker.com/show/7102919/episodes/feed

Payrolls Crash -23,000 — A Massive Miss That Should Stop the Fed From Hiking. Senate Passes the Lindsey Graham Russia Sanctions Act 86-11. T

The Tom Sullivan Show

And hello and welcome to the big podcast on this Friday. Today's the seventh day of August, year of our Lord, 2026. My name is Tom Sullivan and happy Friday to you, first of all. I know it's well, I mean, it's it's a it's a summer Friday. So some of you are on the road already heading to the beach. We have a number of things to go over today.

First of all is we got a big jobs report. It's the first Friday of the month. Today, the first Friday of the month, I think it well, the first Friday of the month. Yes, it is. First was on Saturday. So first Friday of the month, we get our jobs report and it was a surprise.

It was a surprise to the negative because Wall Street was expecting that we would show a weaker report. Usually we get one hundred and twenty thousand jobs payrolls added every month, but they were expecting somewhere along the lines of eighty three thousand.

So they thought it would be a little bit slower. Oh, it was slower. All right. How about we lost? It was a minus twenty three thousand payrolls in the month of July. So this much lower than had been expected. This immediately takes the pressure off of the Federal Reserve to hike interest rates in the month of September.

That's their next meeting, because if the economy measured by jobs is starting to show some slowing or some weakness and it's doing it slowly. It's not I wouldn't say weak at all, but it's slowing. Then that's going to give that's going to relieve the Fed from trying to slow down the economy. It's slowing all on its own. The private sector.

Payrolls Crash -23,000 — A Massive Miss That Should Stop the Fed From Hiking. Senate Passes the Lindsey Graham Russia Sanctions Act 86-11. T

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Payrolls Crash -23,000 — A Massive Miss That Should Stop the Fed From Hiking. Senate Passes the Lindsey Graham Russia Sanctions Act 86-11. T

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.