James Pethokoukis asks, “what is the true state of the labor market?” He offers, “If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.6% today—the U-3 unemployment rate would be 11.1%.”

[img caption=”Credit: American Enterprise Institute” float=”center” width=”640″ height=”361″ render=”<%photoRenderType%>”]18099[/img]