S8 Ep1216: Jim McTague analyzes the July jobs report, which unexpectedly showed a loss of 23,000 jobs, signaling a cutback in spending by those "with little." He describes a "K-shaped economy" where the wealthy continue to spend while others struggle with high gas p
Podcast: The John Batchelor ShowPublished On: Sat Aug 08 2026
Description: Jim McTague analyzes the July jobs report, which unexpectedly showed a loss of 23,000 jobs, signaling a cutback in spending by those "with little." He describes a "K-shaped economy" where the wealthy continue to spend while others struggle with high gas prices and inflation. In Lancaster County, the economy remains uneven; while tourism and manufacturing are strong, hiring for non-specialists is weak. The property market is particularly discouraging for buyers, with low inventory driving prices toward one million dollars for decent homes. McTague observes local economic health through visits to Costco and Olive Garden, noting that despite high traffic, people are increasingly discount-conscious. He also mentions the high-security development of a new data center, which is expected to contribute significantly to the local tax base through 2028. (3)
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