Posted on 07/02/2015 1:21:57 PM PDT by Kaslin
RUSH: They're lying to us again big-time on the unemployment, 5.3% unemployment? (laughing) Yes. These guys are really good. They just keep piling it on, 5.3% unemployment rate, folks. Hey, can you just feel it cooking? Can you feel it sizzling out there? This country is growing by leaps and bounds. My God, if you wanted to find a job, your choices, do you get one for 200 grand or 300 grand. That's how much opportunity there is out there. That's the choice you've got. And if you're not aware of that, you somehow have your head in a hole.
BREAK TRANSCRIPT
RUSH: Let me get this unemployment thing out of the way. It's fascinating. Just talked about this yesterday or the day before. David Stockman's website where he assessed the actual US unemployment rate at 42.9 percent. Based on the number of labor hours available to be worked at a 40-hour workweek. Based on the labor force participation rate, which is the smallest its been in 38 years now.
We're very, very close to actually 93 million Americans not in the workforce, and they are not counted in the unemployment statistics for the most part. Most of them are not counted because most of them have been out of work for so long they're no longer looking for work. And if you're out of work and not looking for any, you don't get counted as unemployment.
The unemployment rate at 5.3%? Who knew? Here's the way the AP handles the propaganda chore today: "US employers added jobs at a solid pace in June, and the unemployment rate fell to 5.3%, a seven-year low. But wages failed to budge, and other barometers of the job market painted a mixed picture."
Really?
"The economy gained 223,000 jobs last month, and the unemployment rate fell from 5.5% in May," to 5.3% according to the Labor Department. Can I give you some stats that the AP does not report? It's guaranteed the only thing you need to hear today. I'm just going to read it right from the Bureau of Labor Statistics report.
"Total nonfarm payroll employment increased by 223,000 in June." This nonfarm business is a confusing thing. It's a throwback to when we were an agricultural economy, and they just haven't changed the term. But nonfarm payroll employment, that's the number of jobs created in a month. And AP reported here at 223,000.
So let me start again. This nonfarm gets in there and confuses people. Let me just leave that out. Starting again in three, two, one. "Total employment increased by 223,000 in June, and the unemployment rate declined to 5.3%, the US Bureau of Labor Statistics reported today. ...The civilian labor force declined by 432,000 in June, following an increase of similar magnitude in May."
This means, folks, that twice as many people left the workforce in May as found jobs, which cancels out the 223,000 jobs created. If 223,000 jobs are created and 432,000 jobs were lost, would somebody explain to me where all this job creation is? Now, the AP and the rest of the Obama sycophant media is not telling you about the decline in the labor force. Some are talking about the labor force participation rate, and they're relying on the fact that most in the low information category are not going to understand it. "Labor force participation, what's that? It doesn't matter to me, Mabel." All they're going to hear is the unemployment rate is 5.3%. (laughing)
Here's the regime. Grab audio sound bite number -- Thomas Perez, the Secretary of Labor. He's on CNBC Squawk on the Street Today. They asked him about the labor force participation rate. The co-host David Faber says, "The participation rate seems to be concerning people, Mr. Perez. We haven't seen it this low since 1977. What is your reaction? We're at 62.3% labor force participation rate. That's down big from just a month ago."
PEREZ: When you compare to 1977 our population is much older now. So that comparison is slightly misleading in that sense. The other thing we always monitor labor force participation very closely. It’s important to understand what did not happen last month. This is not a case of people who got discouraged and stopped looking for work. If that had been the case, then I would be worried about this data point. What happened is that June is the highest month of inflows into the economy. This isn't about discouraged workers. This is about the pace of entry largely into the workforce, (crosstalk) by young people.
RUSH: Folks, look... (sigh) There are any a number of ways to deal with this. The truth has always been my chosen option. It's absurd. Ninety million Americans not working? You blame that on Baby Boomers retiring? The last we heard about the concept of Baby Boomers retiring is that they aren't, and do you know why? They don't have any retirement stocked away! They can't afford to retire. They can't afford to quit. The Baby Boomers are not quitting, and that's why the Millennials can't find a job!
We do not have the usual turnover in our workforce. We do not have the usual 58- to 65-year-old retirement taking place because those people don't have any money to retire on, because nobody has any money, other than the people who aren't working. So trying to lay this off on Baby Boomers is just absurd. And the other co-host at CNBC said, "Well, isn't the lesson by Europe that by raising the minimum wage you risk locking some people out of the economy?"
PEREZ: We've now had the best two years of job growth, uh, that we have seen since the end of the Clinton administration.
RUSH: Right. Stop it.
PEREZ: That is fact!
RUSH: There's no reason to go any further. That just flat-out isn't true. "We've now had the two best years of job growth that we've seen since the end of the Clinton administration"? There's no evidence of it. I mean, they can say this all day long, but you go out and try to find a career-oriented job. Go out try to find a job 30-or-more hours a week. You go and do it; see what you find. Find out how much you'll get paid. These people are lying through their --
I'm sorry. It's not a good way to persuade people. "These people may be well-intentioned and they may be hoping that they're right, but they're not. They're terribly wrong, and we're all being misled by their wonderfully well-intentioned comments. But, my friends, this just isn't true. And, again, I will remind you: The labor force shrunk by 432,000 jobs last month." They're lying through their teeth, but that's too -- what's the word? It's too harsh. Young millennial women don't like language like that, I'm told.
It's off-putting, and it makes them not like the person telling them that, and they feel sympathy for whoever it is I'm talking about. So if I accuse the Regime of lying... "See, the Regime is nice people. The Regime is made up of nice people! Government is nice. Democrats are nice. Obama is a nice guy. Hillary is a nice guy. They're all nice people. And anybody criticizing nice people, they're not nice!"
So that happens to me in this case. So you see, you have to be very, very careful here. But this is just bogus. All of this is just lies. "The best two years of job growth that we've seen since the Clinton administration"? I don't know why I obsess over this because people don't care anyway. It doesn't matter. But to lay this off on Baby Boomers? It's just... There's a story. Look, this is actually kind of confusing. It's a story about the percentage of Baby Boomers that would gladly leave the country because they're so dispirited.
With what we're being told about Millennials in most news story is, they love Obama. They love the country. They're all excited. They're happy as they can be. They're getting gay marriage. They're getting transgendered rights. They're getting equality. They're getting happiness. I mean, everything they want, they're getting. The Confederate flag pulled down and burned. Whatever they want, they're getting. Yet here's a story about how many of them want to leave because they don't see any future?
It's, oh, so confusing out there.
How about this? How about this? I'm through with the jobs numbers. The jobs numbers are bogus. We lost twice as many jobs last month as were created. The unemployment rate is 42%. It is not 5.3%. The economy isn't growing. There's nothing better today than it was in the last two years of the Clinton administration. Nothing! Everything is worse, including public attitude. You just can't find it because people are afraid to express it.
I feel it burning, which is a bit different.
I watched a few minutes of Shepard Smith and some blonde piece of talking furniture trumpeting this garbage earlier today. They can do it with straight faces, too.
It’s hot if you’re an H1B
So, get ready!
Capitalism better start to produce more and better jobs or more and more people are going to turn to government. Unemployment is not the friend of the GOP.
I can say without hesitation...
Since two years into Obama's presidency...my sales have dropped off horribly.
Use to be I'd be taking 10-15 packages every week...to the USPS. Lucky to take 2 every other week now.
We aren't getting the right employment numbers...from Washington.
Like that's a surprise!!
There are some jobs out there.A friend’s son just graduated from a vocational school.Eight days later he got hired for his first job,starting pay is 31K.Not too bad for 18 years old.
Was talking with my parents this morning.
The number of active jobs in the United States grew by roughly 9.75% each presidential term from 1960 through 2000. (approximate average)
One eight year term would see another 19.75% (approximately) new jobs added to the nation’s work force.
Starting in 2000, that abruptly stopped. Bush in two terms added 0.85% jobs overall. Obama’s first term in office wasn’t much better. I believe it was something like 1.5%.
Through 2012, there had been three presidential terms with an overall increase in our nations private sector and federal government sector jobs, falling behind the 29.25% increase that would normally be expected, to just a little over a 2% increase.
When talking about jobs, they play with the people who are still looking. They don’t address all the jobs that failed to be created in the U. S.
This is all a big scam. We are at least 30 million jobs short of where we should be at this time, and I’m pretty sure it’s more in the neighborhood of 40 million.
5.8% unemployment? That is so bogus it should be actionable.
We're heading for a situation like the fictional Panem from The Hunger Games trilogy--great in a few places, but everywhere else....
LOL
Okay, but don’t let your friend back this one out of the garage.
Capitalism can’t do it in this country anymore. It has been deliberately sabotaged by a government bureaucracy and mindless electorate that sees the creation of wealth as evil.
We have passed the fabled “tipping point”. There are more than enough people getting money and other things from the politicians they can vote into office than there are people supplying those things via wealth creation.
We can’t blame this on capitalism, though that is exactly what Obama and people like him want to do.
I have Fox News on, but I didn’t look at the TV
[Okay, but don’t let your friend back this one out of the garage]
Don’t worry. I got this.
https://www.youtube.com/watch?v=45uxM4elYms
Remember when this was just a joke?
https://www.youtube.com/watch?v=3nhgfjrKi0o
As far as I can tell, everyone took the week off because of the Independence Day holiday. Not much reason to show up to work these days.
The U.S. economy fell off a cliff once it was clear to job creators that a communist was likely to win the 2008 election.
It got worse when OZero seized the auto sector and the banks. It’s only been getting worse ever since.
I don’t believe even one “net new job” has been added since 2008. In fact, I am pretty sure we’ve been losing jobs at a fairly steady pace.
Of course there are, but the key word is vocational school. Businesses are waking up, finally I guess
Actually it started in 2007 when the Rats took over the House and the Senate and than kept the Senate until the 2014 election
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