America’s labor market depression continues

James Pethokoukis’ graph says it all:

…the graph is indicative (please note the jobs gap in green) but let me add my obligatory juicy part:

– If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.8% today—the U-3 unemployment rate would be 10.9%. Even if you take into account that the LFP should be declining as America ages, the unemployment rate would be 10.5%.

Ten point five freaking percent.  Go read all of it to see how bad it is.  Yuk. 

Related from Investor’s Business Daily:  10 reasons why jobs market even worse than weak June employment report

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