Edward Lazear: The Hidden Jobless Disaster - WSJ.com:
"First, the better measure of a strong labor market is the proportion of the population that is working, not the proportion that isn't.
In 2006, 63.4% of the working-age population was employed.
That percentage declined to a low of 58.2% in July 2011 and now stands at 58.6%.
By this measure, the labor market's health has barely changed over the past three years."
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