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The Unemployment News is Still Disastrous, But It Doesn't Matter Anymore

BEGIN TRANSCRIPT

RUSH: Unemployment.  We had this news.  Normally, back during the campaign, we would have led with this news.  But it doesn't matter anymore.  At least, it's not of paramount importance, because we extended unemployment benefits.  So the number of people unemployed really is irrelevant, other than as an interesting discussion item.  And the basic numbers are these.  "U.S. employers added 155,000 jobs in December," And AP says that's "a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff," in Washington. 

But it's not a steady gain.  It isn't even enough to keep up with the increase in population.  155,000 jobs a month is pathetic.  Joe Biden promised that we'd be hiring at a rate of 500,000 jobs a month in April of 2010 if we did the stimulus.  We aren't even keeping up with our birthrate.  Future job seekers, we're not even staying even, much less creating new jobs that would actually reduce unemployment. 

Then the AP says, "The solid growth --" There is not any solid growth, folks.  But they say, "The solid job growth wasn’t enough to reduce the unemployment rate, which remained 7.8%."  Now, that is outright mendacity.  The unemployment rate in December, as reported, was 7.7%.  The revised rate was 7.8%.  You know, they report the unemployment rate one week, and a week or two later they revise it, and that's when you get the real number which is never reported.  The same thing with the number of applications for unemployment.  It's always revised, and the revision is always higher. 

So just to show you the media dishonesty here, the reported unemployment rate in November was 7.7%.  The reported unemployment rate in December, 7.8%.  So we went up, 7.7% to 7.8%.  However, AP says it stayed the same.  How's that?  Well, the 7.7% in November was revised to 7.8%, but that wasn't reported because it would not make Obama look good.  So nobody knew that the real unemployment rate was 7.8%.  What was reported was 7.7%.  And AP did not report the revision. 

So now the rate for December is 7.8%, and AP says it "stayed the same." So they're using the revised number that nobody reported. They never do this. Never! They never report the revised number. All of this, still, is to make Obama look good. The fact of the matter is, the 7.8% is gonna be revised upward, and it's gonna be 7.9% or 8% in a couple of weeks, but it won't be reported.

The bottom line/take-away is that we're not making a dent in unemployment. Now, internals. "Government unemployment numbers for December showed that while the general unemployment rate remained flat at 7.8%," which, again, is a crock, "unemployment for women and African-Americans rose despite an economy that created 155,000 jobs. Unemployment for women rose to 7.3% in December from 7.0% while the rate for African-Americans rose sharply to 14.0% from 13.2% in November."

Now, this is from Cybercast News Service. This is not reported in the mainstream media. The mainstream media, AP (paraphrased), "Wow, the economy's still growing! It added 155,000 jobs! The unemployment rate stayed the same!" For women and blacks, the unemployment circumstance got worse. For youth unemployment? You ready for this? "The dismal jobs situation in America is even worse for young adults, who are suffering an unemployment rate 30% higher than the national average of 7.8%..

"According to Generation Opportunity, which charts unemployment for Millennials aged 18-29," your kids, "the rate is 11.5% and a shocking 22.1% for younger black Americans." But AP and the Obama State-Controlled Media are reporting 155,000 jobs and an unchanged 7.8% unemployment rate. But it's up for women and minorities and really up for young people, particularly black young people where it's 22%. It's not reported. It's there. You can find it. It's just not being reported by the Drive-Bys.

So it's getting worse, it isn't improving -- and, by the way, this is the only thing that can happen. We can't create jobs because we're taking money out of the private sector. When Obama starts raising taxes and fees and Obamacare kicks in, that's just money out of everybody's back pocket, including people that own businesses. When they have less money, there's less money to grow businesses, or hire new people -- or, in some cases, even stay open. It just isn't mathematically possible to create jobs with an administration that's taking so much money out of the economy.

Not possible.

What's happening is the only thing that can happen with current administration policies.

END TRANSCRIPT

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