ZeroHedge has possibly the best stat for braking down unemployment and participation rates. Here’s an example http://www.zerohedge.com/news/implied-unemployment-rate-rises-115-spread-propaganda-number-surges-30-year-high

International Liberty

The new unemployment numbers have been released and the White House must be somewhat happy. The joblessness rate is down to 8.2 percent, which means the number that gets the most publicity continues to move in the right direction.

I’ve been predicting that Obama will win reelection if the unemployment rate falls to 8.0 percent or below, so my prognostication ability will be put to the test if this trend continues.

But let’s set aside the politics and take a dispassionate look at the U.S. job market. How are we doing?

Well, total employment is estimated to be a bit above 142 million.

The good news is that we have about 4.1 million more jobs than we had in December of 2009.

The bad news is that we still have fewer jobs than when Obama took office, and about 4.5 million fewer jobs than we had in November 2007.

Last…

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