I haven't paid any attention to employment data for a long time. It is too rare that anybody does a meaningful analysis of employment by synthesizing U1-U6 data. Using any one number at any one time is IMO total bull.
Let's talk labor force participation rates instead. They SUCK. Which makes much more sense given the weak markets.
as you know, they have falling for 20 years
low labor force particiapation is a negative, but it is nothing new
Yes, I know...and like many structural factors whose effects are only now really beginning to be felt, it had its beginnings back in the glory days, when those beginnings could be (and were) easily overlooked and/or dismissed.