The David Lin Report · Monday, August 10, 2026
Jim Welsh downplays the significance of the July jobs report, which showed an unexpected loss of 23,000 jobs. He points out that the majority of these losses were concentrated in the government education sector, which he attributes to seasonal adjustments as schools prepare to reopen in August. Welsh believes this specific data point might be a 'head fake' and doesn't necessarily reflect a broader economic weakness.
“However, like with most of these government reports, you kind of have to look under the surface.”
“And so, uh, the government lost 50,000 jobs. And those job losses were concentrated in the education sector.”
“So to me, David, that loss of 50,000 government jobs looks a little suspicious.”