Some color on the drop in unemployment rate (hint: it’s not good)

According to Jim Pethokoukis,the participation rate fell to 63.5%, the lowest since Sept. 1981.

If the participation rate had remained unchanged, unemployment would have risen to 8.4%. He adds that the unemployment rate would be 11.2% if the participation rate would have been the same as when Obama took office.

There is truly not a single positive takeaway from this report.