The recent news that the unemployment rate dropped from 9 percent to 8.6% was greeted in some circles as great news. In reality these percentages don't tell very much.
Most people know that this Labor Department figure does not include people NO LONGER seeking a job, people who have accepted a part time job (70% of these want full time jobs), and people who can't find work so they are taking college or tech classes. I teach at an open door community college and we can't find enough qualified teachers for all the sections we could offer.
Here is the AWFUL TRUTH. Based upon on demographics and population growth, the USA needs to add 200,000 new jobs EVERY MONTH to have meaningful economic growth. Last month's total was just 120,000 jobs and high paying government jobs actually went down 20,000.