Mike Shedlock of Mish's Global Economic Trend Analysis posted this chilling blog post about the unemployment prospects for the age group of 25-54. It's very self explanatory, but I believe this statement summarizes what poor shape this economy is in and will continue to be in for a long while in my opinion.
Read More: Startling Look at Employment Demographics by Age Group: Spotlight on Age 25-54
Irrefutable Evidence Falling Employment Not Based on Boomer Demographics
This plunge in employment in the prime working age group of 25-54 is
irrefutable proof that the drop in employment and the falling
participation rate is not based on aging boomer demographics.
By calculation, 4,960,000 jobs (6,300,000 - 1,340,000) simply vanished into thin air (in age group 25-54 alone).
Thus, the plunge in employment in the prime working age group of 25-54
also provides strong evidence the stated unemployment rate of
7.8% is bogus by a more sensible measure of unemployment.
Read the BLS and any other government databases or statistics at your own risk and take what they publish with a grain of salt. It sounds like the official numbers have been somehow corrupted to make the economy look like it is doing better than it is in reality and to also make the politicians look good at the expense of others.