Besides the impact of temporary holiday hires, if the size of the labor force (employed + those who are unemployed but looking for a job) was the same in Nov 2011 as it was in Oct 2011, the unemployment rate would currently be 8.9%.
If the labor force today was as big as the labor force when Obama took office, the unemployment rate would be 11%! That means millions of people have left the labor force and have not been replaced in the last 3 years.
click hereCourtesy of ShadowStats.com • There Is No Sudden Economic Recovery, Just Bad-Quality Numbers and Deteriorating Labor Conditions • Latest Jobs Level Still Well Below Pre-2007 and Pre-2001 Recession Levels • November Unemployment: 8.6% (U.3), 15.6% (U.6), 22.6% (SGS) • Money Supply M3 Annual Growth at 2.7% in November • Potential Euro Disintegration Is Nothing Like the Looming Dollar Collapse