The unemployment rate went down from 7.9 to 7.7%. We’re in a circumstance now, folks, where it has been like this for so long that many low-information voters are gonna assume that this is normal when it’s absolutely a disaster. Unemployment, the entire employment universe, everything about employment in this country at present, is a disaster. And yet, the media and the Regime today are treating this drop as though it’s nirvana.
J.C. Penney announced today that they had laid off around 2,200 people at a hundred stores and offices. This is in the Chicago Tribune, and this is happening every week now. So while you hear that the unemployment rate went down to 7.7%, know that a minimum of 2,200 people lost their job, that’s just J.C. Penney, more and more happening all over the country. And one of the hidden bits of news in the unemployment report today, another 130,000 people dropped out of the labor force, which means that the number of jobs that are available to be filled fell by 130,000.
Now, here’s the important number on that. Since Barack Obama was inaugurated in 2009, the universe of jobs has shrunk by over 8.5 million. There are 8.5 million fewer job opportunities in this country than there were four years ago. That’s how many businesses have closed. That’s how much downsizing at businesses large small there has been. There are just 8,500,000 fewer jobs. Our population hasn’t dropped by 8.5 million. Our population is either steady or increasing a little bit. But there are more and more people coming out of college that want jobs that just aren’t there. And another 130,000 people dropped out of the labor force.
That means they’ve burned through their unemployment compensation benefits. They’ve gone through their 99 weeks and there isn’t anything and they’re just out in the ether now. They are not counted as unemployed, by the way, because they’ve given up looking. So the way the government does this, if you’re not looking for a job you’re not counted as unemployed. You’re just forgotten. That’s how the unemployment rate can come down. People who drop out of the system are treated by the liberals and the media as if they never existed, much like unborn babies. Unborn babies, aborted babies, are forgotten. They never existed. The same thing with people who drop out of the employment system.Continue reading on www.rushlimbaugh.com