Here are some little known facts about the Economy/Employment situation that the media ignores;
The number of people working/looking for a job (Labor Participation Rate) has dropped dramatically in the last 4 years because so many people have given up trying.
This has resulted in an artificially low reported Unemployment Rate, which masks the really dismal economic situation.
Here's why – In 2008, the average 'Labor Participation Rate' (the number of people in the working age group that were working or looking for a job) was 66.03% (66.23% for all of Bush's 8 years), and with the current size of the labor force for 2012 (243,275,000 per the official government Bureau of Labor Statistics - BLS), that would amount to 160,700,000 people in an equivalent job market today. Since there were an average of 142,547,000 people actually working in 2012 (per BLS), that makes a REAL Unemployment Rate of 11.7% in 2012. The average Unemployment Rate in 2008 on equivalent terms was only 5.8%, so the Unemployment Rate in 2012 is now DOUBLE what it was in 2008 after 4 years under Obama.
It FEELS like a miserable economic recovery because it IS a miserable economic recovery, with twice as many of your friends and neighbors unemployed as in 2008. In short – the CLAIMED Unemployment Rate is drastically understated.