{"id":5984,"date":"2015-07-02T16:12:18","date_gmt":"2015-07-02T16:12:18","guid":{"rendered":""},"modified":"2015-07-02T16:12:18","modified_gmt":"2015-07-02T16:12:18","slug":"can_you_feel_the_economy_sizzling","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2015\/07\/02\/can_you_feel_the_economy_sizzling\/","title":{"rendered":"Can You Feel the Economy Sizzling?"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: They\u2019re 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\u2019s how much opportunity there is out there. That\u2019s the choice you\u2019ve got. And if you\u2019re not aware of that, you somehow have your head in a hole. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Let me get this unemployment thing out of the way. It\u2019s fascinating. Just talked about this yesterday or the day before. David Stockman\u2019s website <\/a>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. <\/p>\n

We\u2019re 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\u2019re no longer looking for work. And if you\u2019re out of work and not looking for any, you don\u2019t get counted as unemployment. <\/line><\/p>\n

The unemployment rate at 5.3%? Who knew? Here\u2019s 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.”<\/p>\n

Really? <\/p>\n

“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\u2019s guaranteed the only thing you need to hear today. I\u2019m just going to read it right from the Bureau of Labor Statistics report. <\/p>\n

“Total nonfarm payroll employment increased by 223,000 in June.” This nonfarm business is a confusing thing. It\u2019s a throwback to when we were an agricultural economy, and they just haven\u2019t changed the term. But nonfarm payroll employment, that\u2019s the number of jobs created in a month. And AP reported here at 223,000. <\/p>\n

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.”<\/p>\n

<\/a>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\u2019re relying on the fact that most in the low information category are not going to understand it. “Labor force participation, what\u2019s that? It doesn\u2019t matter to me, Mabel.” All they\u2019re going to hear is the unemployment rate is 5.3%. (laughing)<\/p>\n

Here\u2019s the regime. Grab audio sound bite number — Thomas Perez, the Secretary of Labor. He\u2019s 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\u2019t seen it this low since 1977. What is your reaction? We\u2019re at 62.3% labor force participation rate. That\u2019s down big from just a month ago.”<\/p>\n

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\u00c2\u2019s 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\u2019t about discouraged workers. This is about the pace of entry largely into the workforce, (crosstalk) by young people.<\/line><\/p>\n

RUSH: Folks, look… (sigh) There are any a number of ways to deal with this. The truth has always been my chosen option. It\u2019s 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\u2019t, and do you know why? They don\u2019t have any retirement stocked away! They can\u2019t afford to retire. They can\u2019t afford to quit. The Baby Boomers are not quitting, and that\u2019s why the Millennials can\u2019t find a job! <\/p>\n

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\u2019t have any money to retire on, because nobody has any money, other than the people who aren\u2019t working. So trying to lay this off on Baby Boomers is just absurd. And the other co-host at CNBC said, “Well, isn\u2019t the lesson by Europe that by raising the minimum wage you risk locking some people out of the economy?”<\/p>\n

PEREZ: We\u2019ve now had the best two years of job growth, uh, that we have seen since the end of the Clinton administration.<\/p>\n

RUSH: Right. Stop it.<\/p>\n

PEREZ: That is fact!<\/p>\n

RUSH: There\u2019s no reason to go any further. That just flat-out isn\u2019t true. “We\u2019ve now had the two best years of job growth that we\u2019ve seen since the end of the Clinton administration”? There\u2019s 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\u2019ll get paid. These people are lying through their —<\/p>\n

I\u2019m sorry. It\u2019s not a good way to persuade people. “These people may be well-intentioned and they may be hoping that they\u2019re right, but they\u2019re not. They\u2019re terribly wrong, and we\u2019re all being misled by their wonderfully well-intentioned comments. But, my friends, this just isn\u2019t true. And, again, I will remind you: The labor force shrunk by 432,000 jobs last month.” They\u2019re lying through their teeth, but that\u2019s too — what\u2019s the word? It\u2019s too harsh. Young millennial women don\u2019t like language like that, I\u2019m told. <\/p>\n

It\u2019s off-putting, and it makes them not like the person telling them that, and they feel sympathy for whoever it is I\u2019m 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\u2019re all nice people. And anybody criticizing nice people, they\u2019re not nice!”<\/p>\n

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\u2019ve seen since the Clinton administration”? I don\u2019t know why I obsess over this because people don\u2019t care anyway. It doesn\u2019t matter. But to lay this off on Baby Boomers? It\u2019s just… There\u2019s a story. Look, this is actually kind of confusing. It\u2019s a story about the percentage of Baby Boomers that would gladly leave the country because they\u2019re so dispirited. <\/line><\/p>\n

With what we\u2019re being told about Millennials in most news story is, they love Obama. They love the country. They\u2019re all excited. They\u2019re happy as they can be. They\u2019re getting gay marriage. They\u2019re getting transgendered rights. They\u2019re getting equality. They\u2019re getting happiness. I mean, everything they want, they\u2019re getting. The Confederate flag pulled down and burned. Whatever they want, they\u2019re getting. Yet here\u2019s a story about how many of them want to leave because they don\u2019t see any future?<\/p>\n

It\u2019s, oh, so confusing out there. <\/p>\n

How about this? How about this? I\u2019m 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\u2019t growing. There\u2019s 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\u2019t find it because people are afraid to express it.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: They\u2019re 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 […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nCan You Feel the Economy Sizzling? - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/daily\/2015\/07\/02\/can_you_feel_the_economy_sizzling\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Can You Feel the Economy Sizzling? - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: They\u2019re lying to us again big-time on the unemployment, 5.3% unemployment? (laughing) Yes. These guys are really good. 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