Sorry, But The Real Unemployment Rate Is 9.8%, Not 5%
"The chart shows how misleading the unemployment statistics are. If you include people who have given up looking for work, the unemployment rate is 6%. If you include people stuck in a part-time job for 20 or 25 hours a week, the real unemployment rate is a dreadful 9.8%. Why is Washington cheering?"
That's the U-6 rate, not an unemployment rate. But even at 9.8%,
it's way down from its 17% post recession high and down from 14.2% when Bush left office.
Hell, the unemployment rate is lower now than it was under Reagan at this same point in his presidency.