http://www.hoover.org/research/america-free-fall==============================

a couple glaring falsehoods do bear correction.

The author claimed that the 5% unemployment rate is due to "Obama era methodolgies" excluding people who are not looking for work.  Actually, that has been the practice since we started counting unemployment rates.

The author also claimed that the current Labor Force Participation Rate is the lowest since the Great Depression.  This is very false.  We have only been measuring LFPR since 1948 and our current rate is much higher than it was then because of women participating in the workforce.  The low point was actually 1954.

As an aside, contrary to what my Conservative American friends conclude as they rush to stock up on ammo and canned goods, the declining LFPR is not mostly due to "discouraged workers", but the aging baby boom and rising post high school education.  If you look at US employment percentage for ages 24-55, that rate has been recovering and is now higher than for any time before the late 80's.

Carry on my wayward sons.