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Dismal Jobs Report as Obama Kills Full-Time Jobs and Hurts the Opportunity for Young People to Have Careers

BEGIN TRANSCRIPT

RUSH: Now, the release of the June jobs report happened Friday, and it was just like all these other jobs reports.  It's dismal.  The Labor Department reported that the economy gained 195,000 jobs in June, which beat expectations, which means our expectations are horribly low.  We need, just to replace, to go back to 2008 unemployment levels, we need to be creating 600,000 jobs a month.  Did you know that, Rachel?  Six-hundred thousand a month.  We're nowhere near that, and we're still going the wrong direction. 

"The Department also reported that the economy gained 70,000 more jobs in April and May than it originally estimated. The report, however, also provides clear evidence that the the nation is splitting into two; only 47% of Americans have a full-time job and those who don't are finding it increasingly out of reach.  Of the 144 million Americans employed last month..." Folks, I'm gonna tell you something.  We've got a population -- I know there's kids in this number, children -- we have a population of over 300 million people, and not even half of them are working.  I'm sorry.  This country cannot stay a superpower, cannot stay great, the economy cannot continue to grow with those numbers.  And then it gets worse from there. 

"Of the 144 million Americans employed last month, only 116 million were working full-time. Friday's report showed that 58.7% of the civilian adult population of 245 million was working last month. Only 47% of Americans," this is all Americans, not the labor force, "only 47% of Americans had a full-time job."  Part-time jobs, which is the majority of the jobs created in that 195,000, the majority of jobs created are part-time jobs, and that's Obamacare.  The combination of Obamacare and the economy are almost inseparable. 

"The market's positive reaction to Friday's report is another sign of how far our economic expectations have fallen. If today the same proportion of Americans worked as just a decade ago, there would be almost 9 million more people working."  You know, I spend a lot of time on this every time the jobs numbers come out, the labor force participation rate, in addition to the unemployment number that's expressed as the percentage.  The fact of the matter is that we have lost nine million jobs.  Forget people for a second.  There are nine million fewer jobs to have in this country. 

So, of the people who are unemployed, their ability to find a job is limited by the fact that in 10 years we have lost nine million jobs.  Think of it as job opportunities.  They just don't exist.  That is how bad the Obama economy has been.  Just in the last 12 months, two million Americans have left the labor force.  Well, now, in light of that, 195,000 jobs created, big whoop.  Two million Americans left the labor force.  That means two million jobs ceased to exist.  So the unemployment number of whatever it reported, seven point whatever it was percent, it's meaningless, because the universe is shrinking.  And then you have with a majority of the population not even holding a full-time job, is it any wonder our economy isn't growing?  Another way to look at a full-time job is a career. 

You know, there's all kinds of work.  There's entry level work, which is minimum wage, where you enter the workforce and just learn what it's all about, getting a paycheck for showing up on time and all that.  And then there are jobs you do to help supplant your existence, when you're in school, if you do that.  But then at some point in your life you figure out what you want to do.  At some point in your life, if you're lucky, you learn what you love.  A lot of people never do, so their job never is any more than a job, something they have to do.

Some people actually find out what they love.  And that takes on a whole different meaning to them than just the job.  It's a career, and it's the definition of who they are.  Other people find full-time work, and it is a career in the sense that there is advancement if you do well, but they may not be doing what they love.  And that's the group I'm talking about.  The opportunity -- you know, a job is one thing; a career is another.  Because a career is where you devote yourself to improving and advancing, climbing the ladder, as it were.  I'm sorry; with only 47% of working adults working full time, we're not even developing careers for people to exploit and to experience and to conquer. 

Now, this is massive change from what the American jobs universe used to be.  The American jobs universe contained all the jobs and types of jobs that we have today, but there were certainly far more career opportunities than there are today.  And the career opportunities are directly relatable to the number of jobs that no longer exist.  Now with Obamacare and companies converting full time to part time, you can wave good-bye to a career as a part-timer.  You're not gonna conquer anything part time.  You're not gonna climb a ladder part time.  And you're not gonna get health care part time.  And that's why you're being converted to part time.  Because Obamacare is so expensive that companies are weighing staying in business or going out of business, staying profitable or not.  And contrary to low-information voter beliefs, a company is not there to provide you health care.  It's there for a whole lot of other reasons.

BREAK TRANSCRIPT

RUSH:  Here are a couple more interesting facts on the jobs situation.  The nation's number one employer is...? What do you think, Snerdley? (interruption) Walmart's right.  The second largest employer is Kelly Services, a temporary workers agency. Kelly Services is the second largest employer. It's Kelly Services, which provides temporary workers, part-timers.  They're the second largest employer after Walmart. 

It's exactly what I was talking about before: The absence of careers. (interruption) Kelly Girls is the same company.  They're not called "Kelly Girls" anymore; it's Kelly Services.  It was "Kelly Girls" back in the days of Mad Men.  In addition to the second largest US employer being a temp agency, there are 101 million Americans receiving food aid from the federal government. 

That is a number larger than the number of private sector employees.  Now, this is not a new picture to you and me.  We've been on top of this and we've seen it coming. We've seen it develop the past five years.  But this is a damn tragedy!  I'm sorry, this is not a foundation for any growth.  This is not a foundation for goodness.  This is absolute tragedy. This is embarrassing.  The second largest employer is a temp agency!

originalPlus, 101 million Americans are getting food aid, which is a number larger than the number of people who have jobs.  This is why, folks, some people have said that I sound like I'm a little cold-hearted when I talk about this. I'm not.  If you're on unemployment in America, you've got your car... The way to put this is: The unemployed are still eating, and so what's the problem?  The unemployed have their cell phones, they have their cars, they've got their flat screens and food. 

Being unemployed is not what it used to be. 

When you were out of work, you were in dire circumstances, and your unemployment compensation didn't come close to substituting what you had lost when you lost your job.  I'm talking about incentives. What's the incentive to work?  It's not nearly as big. There isn't anywhere near the necessity. I'm telling you, I can't emphasize enough: You take away the whole notion of careers from the American jobs experience, or universe, whatever you want to call it?

This is massive, massive change that is not -- in this case -- good.  Now, 50 years ago? Here's some more information. Just 50 years ago (that's 1960), all but three of the top employers in the country produced goods.  The other three provided services.  Since 2010, it's been reversed.  Only three of the top 15 employers produce goods, things, products -- GE, Pepsi, HP, Apple, this kind of thing -- and the rest provide services, like Walmart. 

So that's just a picture of how the work situation or universe in the country has changed.  

END TRANSCRIPT

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