Some people like John Williams at shadowstats say that unemployment is counted differently today than it was in Reagan's time, and that more people today are ignored. I think that's plausible, but would like some evidence. This recession probably feels worse than the 1981-2 recession even though government has thrown a couple magnitudes more of money at today's recession. Folks were pretty much on their own back in 1982, and there wasn't 79 weeks of unemployment insurance available in any state.

The average workweek was 33 hours, and that will have to rise before many new people are hired. I wonder about the quality of the new jobs, and if they pay a livable wage?

Bernanke seems hell-bent on blowing another bubble with the dollar carry trade, and some worry this could blow up soon and we could get a double dip recession if we don't get hyperinflation. For sure the man has too much responsibility and has assumed too much power while congress argues and dithers.

I've read that the birth death model's numbers are still unrealistic. One thing's for sure; it's a hell of a time to be looking for a job.