308. Jobs, Taxes & Policy: What’s Ahead for America| Weekly Prosperity Pulse #8

Key economic insights as we approach election day.

Welcome to this week’s Weekly Prosperity Pulse!

Thanks for joining me on this journey toward economic freedom and prosperity! This week’s newsletter covers the latest on the U.S. jobs report, pressing issues like Medicare for All, and tax competitiveness across states. Dive into these updates to stay informed on policies impacting your wallet and learn more about why first principles matter in policy debates.

If you haven’t yet, consider becoming a subscriber for exclusive content below the paywall—together, we can keep advocating for economic freedom and prosperity!

---

Highlights from This Week

Weak U.S. Jobs Report

• You need to know that this was a very weak jobs report partly contributed to by strikes and hurricanes, but underlying weaknesses remain, as noted below. The establishment report shows the private sector lost 28K jobs last month, influenced by strikes and hurricanes; total jobs were revised down by 112K over the previous two months and a 3-month average of just 67K in the private sector. The household report shows the labor force declined by 220K last month, employment was down by 368K, and unemployment was up by 150K, so the unemployment rate stayed at 4.1%. The labor force participation rate declined to 62.6% and has been at its lowest rate since briefly in 2015 or 1978, excluding the COVID lockdown period. Average weekly earnings are up 4% over the last year and have outpaced inflation recently. Still, the losses in purchasing power for years have burdened Americans today and will continue to do so, as inflation-adjusted average weekly earnings are down about 3% since January 2021.

Check out my interview with David Bahnsen on his podcast Capital Record.

• This is the episode for those who think policy matters. It is really for those who think first principles as the basis of policy matters.
  

What Could Medicare for All and Amnesty Mean to You?

• Check out my recent interview on NTD News.

Amnesty + Medicare for All Would Bankrupt America

• My latest commentary at American Institute for Economic Research explains.

Housing is a Big Problem

• I explained this in my radio interview with KTRH News Houston.

Empowering Strong Families

• Check out my take at Econlib on why government is the problem, not the solution.

---

What I’m Learning

• New paper by Tax Foundation on 2025 State Tax Competitiveness Index.

• Opinion piece in WSJ about whichever person wins president: cut spending!

• Article at Texas Policy Research on the cost of electricity in Texas.

• Books I’m Reading:

  • Barbarians Inside the Gates and Other Controversial Essays by Thomas Sowell.

Let People Prosper Show podcast

The Let People Prosper Show features deep discussions on hot topics:

• Episode 120 (Yesterday):
  I interviewed Daniel Turner, Founder and Executive Director of Power The Future (PTF).

• Episode 121 (Next Thursday):
  Don’t miss next week’s episode with Dr. Pat Horan, a research fellow at the Mercatus Center, to explore the role of monetary policy and the Federal Reserve in economic activity. We discuss topics like nominal GDP targeting, the Federal Reserve’s pandemic response, and how fiscal discipline complements effective monetary policy. Dr. Horan’s insights draw from his deep understanding of economic history, inspired by figures like Milton Friedman, to highlight the need for a balanced approach to economic policy.

• Did you miss This Week’s Economy episode 84?

---

Quote of the Week

---

Bible Verse of the Week

---

Thanks for joining me on this journey to promote economic freedom and prosperity. I hope this Weekly Prosperity Pulse keeps you informed, inspired, and ready for the week ahead. Please subscribe and share this newsletter with your family and friends.