“No one cares that unemployment is never going to go below 7 or 8 %.”
Use the true U6 data; the U3 data is BS and doesn’t factor-in all the people who’ve stopped looking for work, because there is none.
It’s closer to 14%.
http://www.bls.gov/news.release/empsit.t15.htm
And that’s not taking in account of all the poor saps having to work 2 or 3 part-time jobs.