“In January of 2009, the labor participation rate was 65.7% (at least one metric that isn’t better now than when he took office) and the unemployment rate was 7.8%. Were the labor participation rate 65.7% today, the unemployment rate would be 9.7%. In other words, the entire improvement in the unemployment rate since President Obama took office (from 7.8% to 5.7%) is due to a decline in labor participation. Had labor participation held steady, unemployment would be 9.7%.
In human terms, because they are either unemployed or out of the labor force, this means an historic number of Americas are waking up each day without a job.”
