This is how to take the 7.8% off the table in easily understood terms. Just say:
Did you know that if everybody lost their jobs tomorrow, the unemployment rate would be zero percent after the unemployment checks ran out? It makes no sense, does it? Well, that is how the 7.8% rate is calculated. Now the real truth is....(U6 unchanged, total number of people with full time jobs lowest since 1980, take your pick).
“Now the real truth is....(U6 unchanged, total number of people with full time jobs lowest since 1980, take your pick).”
The other factor that should be shouted from the rooftops is the simple fact that a lot of the new jobs are much less attractive than the old ones. There are simply a lot fewer well-paying jobs out there.
I’m sure 0bama is proud of creating a lot of full-time fast food worker jobs...
There’s a reason that average family income is down - it’s because there aren’t as many decent jobs.