December 7, 2013
JAMES PETHOKOUKIS: A ‘New Normal’ November jobs report: The long emergency for US workers continues. “There are still 1.1 million fewer employed Americans today than right before the recession started, despite a potential labor force that’s 14 million larger. And there are 3.6 million fewer full-time workers than back in 2007. . . . If the labor force participation rate were where it was a year ago, the jobless rate would be 7.9%, not 7% (and 11.3% if the LFPR were at prerecession levels, though closer to 9% if demographics-adjusted).”
Note the graphic.