The U.S. job market isn't collapsing — it's stuck. July payrolls fell by 23,000, while unemployment held at 4.1%. But deeper revisions to May and June erased more than 100,000 previously reported jobs, raising bigger questions about the strength of the labor market.

On this episode of Everyday Economics, Chris Krug and PhD economist Orphée Divounguy break down what the latest jobs numbers really mean for workers, businesses and the U.S. economy.

They discuss:

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Illinois Democratic State Rep. Carol Ammons is facing a bipartisan Illinois House investigation after being federally charged with wire fraud and making false statements, with the special committee examining whether there are grounds for discipline or removal while Ammons maintains her innocence.

Ammons and her husband, Aaron Adam Ammons, have pleaded not guilty to the federal charges, with a trial scheduled for September. Prosecutors allege the case involves nonprofit contracts and questions surrounding campaign contributions, while the House committee emphasized that it is not determining guilt or innocence.

Also, in this episode:

The committee voted to contact the U.S. Attorney's Office for the Central District of Illinois before proceeding further, seeking guidance on whether the state investigation could interfere with the ongoing federal case.

The investigation draws comparisons to the Illinois House's previous special committee examining former Speaker Michael Madigan, who was later convicted on federal corruption charges and sentenced to 7½ years in prison.

The States also examines energy prices and the conflict in Iran, a newly uncovered effort by state attorneys general to coordinate litigation against the Trump administration, and the growing debate over data center expansion and taxpayer costs.

Plus, America's Talking:

California: https://www.thecentersquare.com/california/article_28a745de-6c13-4df1-88df-c0c150193eb7.html

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The Federal Reserve kept interest rates unchanged—but that doesn't mean borrowing is getting any easier. In this episode of Everyday Economics, Greg Bishop sits down with PhD economist Orphe Divounguy to explain why mortgage rates remain elevated, what it means for first-time homebuyers, businesses looking to expand, and taxpayers navigating an increasingly expensive economy. Topics include: Why mortgage rates remain near 7% The end of the era of cheap money Housing affordability and first-time buyers Why wealthy buyers are still purchasing homes The impact of high borrowing costs on businesses Inflation, jobs, and the Federal Reserve's difficult balancing act What taxpayers should expect if interest rates stay elevated If you're wondering how Federal Reserve policy affects your finances, this breakdown explains the real-world economic consequences. Subscribe for more reporting on economics, government spending, taxes, inflation, and how public policy impacts taxpayers.

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The Federal Reserve kept interest rates unchanged for a fifth straight meeting—but the real story wasn't the decision itself. It was the message. In this episode of Everyday Economics, Dr. Orphe Divounguy explains why markets reacted so strongly after the Fed abandoned forward guidance, why Treasury yields surged to their highest levels since 2007, and why some Federal Reserve officials are now calling for higher interest rates—not cuts. What does this mean for inflation, taxpayers, businesses, retirees, homebuyers, and anyone saving for retirement? In this video: Why markets sold off after the Fed meeting Inflation risks that refuse to disappear Why three Fed officials wanted rate hikes How government deficits affect interest rates AI investment and its impact on borrowing costs Why volatility hurts workers and retirees What to watch in the upcoming jobs report If inflation remains stubborn, borrowing costs could stay elevated, affecting mortgages, business investment, federal debt, and ultimately taxpayers. Subscribe for more analysis on the economy, government spending, inflation, and the policies affecting your financial future. 

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Inflation remains one of the biggest financial challenges facing American families, and the Federal Reserve may not be done fighting rising prices. In this episode of Everyday Economics, Greg Bishop and economist Orphe Divounguy, Ph.D. explain why a stronger labor market has shifted the Federal Reserve's focus away from unemployment and back toward inflation.

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Gas prices posted their biggest monthly decline since 2020, giving Americans temporary relief at the pump—but is it enough to keep inflation under control?

In this episode of Everyday Economics, Chris Krug and economist Dr. Orphe Divounguy explain why cheaper gasoline is helping consumers continue spending, why rent prices may be about to rise again, and how Middle East tensions could send energy prices higher. They also discuss what the latest CPI data really means, whether inflation is actually cooling, and why the Federal Reserve may keep interest rates higher for longer.

Topics Covered:

Why gas prices fell

June CPI inflation explained

Will inflation rise again?

Rent prices and the housing market

How oil prices affect everyday costs

Federal Reserve outlook

Consumer spending trends

Everyday Economics analysis

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America remains 4.7 million homes short, leaving millions of families struggling to find affordable housing while home prices remain elevated. In this episode of Everyday Economics, Center Square Publisher Chris Krug and economist Dr. Orphe Divounguy explain why the housing shortage continues despite slowing consumer spending and why home construction has stalled. They discuss: America's growing housing supply shortage Why single-family home construction is slowing How high interest rates impact builders The rising cost of construction materials The role zoning laws and permitting delays play How government regulations increase the cost of new homes Why affordable housing remains out of reach for millions What policymakers could do to lower housing costs Whether you're a homeowner, first-time buyer, taxpayer, investor, or simply wondering why housing remains so expensive, this conversation breaks down the economic forces shaping America's housing market. Subscribe for more analysis on the economy, government spending, inflation, housing, taxes, and the policies affecting taxpayers nationwide.

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The Federal Reserve may not cut interest rates in 2026 after all—and that could have major consequences for taxpayers, homeowners, businesses and anyone carrying debt. In this episode of Everyday Economics, Center Square Publisher Chris Krug sits down with economist Dr. Orfe Divungi to explain why inflation remains stubborn, how tariffs, housing costs and record federal deficits continue to pressure the economy, and why the Federal Reserve may have little choice but to keep borrowing costs elevated. Topics include: Why inflation may stay above the Fed's 2% target How tariffs continue pushing prices higher Why housing costs are becoming an inflation problem again The impact of federal deficits on interest rates Mortgage rates, credit card debt and business loans What this means for taxpayers and the U.S. economy If federal borrowing continues to rise, taxpayers could face higher financing costs throughout the economy, making homes, vehicles and everyday purchases more expensive while increasing the long-term burden of servicing the national debt. Subscribe for daily reporting on government spending, fiscal policy, state government, taxes and the economic issues affecting Americans.

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The housing market has stabilized—but that doesn't mean it's healthy.

In this episode of Everyday Economics, Chris Krug and economist Orphe Divounguy explain why home sales remain stuck near historic lows despite expectations for a stronger 2026 housing market.

They discuss why Americans aren't moving, how weak job growth is slowing housing demand, the impact of mortgage rate lock-in, rising rents, aging demographics, housing shortages, and why a lack of inventory continues to keep the market frozen. Plus, what to expect from the latest Zillow housing market report.

Topics Covered:

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June's unemployment rate fell to 4.2%, but does that really mean the U.S. economy is improving? In this episode of Everyday Economics, Chris Krug and economist Orphe Divounguy break down why the latest jobs report may be sending mixed signals.

They discuss weak private-sector hiring, shrinking labor force participation, healthcare-driven job growth, downward payroll revisions, and what the new Federal Reserve chairman's communication strategy could mean for interest rates, inflation, and the economy.

Topics Covered:

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