> Take for example the U-3 unemployment number that you cite, what is missing from that is Workforce Participation, we have a pretty large drop-off in Work force participation which is leading to the false belief that employment is "fine", and the quote "mix signal" of being in a recession while still having lower unemployment.

Everyone is still very desparate for employees, so I don't think Workforce Participation is low because there aren't enough jobs and people are discouraged from the work force. Baby boomers are currently aging out of the job market at a n accelerated rate, so that must be one of the reasons (U-6 doesn't include that though). I think the current drug disaster is another (a lot of people are simply unemployable), but I'm not sure how to measure that.