In the Forbes article "The Worst Five Years Since the Great Depression", it is quoted:

[...] what America got by year five was fewer jobs than before. Even though the employment age population has increased by nearly 12 million since January, 2008, there are now 3 million fewer Americans working, with employment declining from 146.3 million in January, 2008 to 143.3 million in December, 2012. If America enjoyed the same labor force participation rate as in 2008, the unemployment rate in December, 2012 would have been 11.4%, compared to 4.9% in December, 2007, [...]

Are these claims true?

  • 2
    There are a lot of claims here. A lot of them are opinion/emotional (Does Obama have a "cabal"? What "should" have happened? Will 4.9% unemployment be seen again?) Please limit the question to one claim.
    – Oddthinking
    Commented Jul 8, 2014 at 14:41
  • @Oddthinking Sorry about that. Narrowed it down. Thought it might be relevant to include the hyperbole.
    – user20862
    Commented Jul 8, 2014 at 14:45
  • 1
    "worst recovery since the Great Depression" -- that's not much of a claim, is it, considering it was the worst recession since the great depression, as well. It's a bit like saying "This is the darkest night since last night!"
    – Flimzy
    Commented Jul 8, 2014 at 16:34
  • @Flimzy By what statistic are you considering it the worst recession since the Great Depression? The highest unemployment rate since the Great Depression was during the 1982 recession, yet the unemployment rate fell by nealy 1/3 in about one year and a half. Over the same time frame from the 2009 peak, the unemployment rate fell by only about 10%. The 1982 peak in unemployment was 10% higher than the 2009 peak.
    – user20862
    Commented Jul 8, 2014 at 16:44
  • @Gracchus: I'm no economist, but that seems to be the general consensus of a great many people.
    – Flimzy
    Commented Jul 8, 2014 at 17:50


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