Another example of the Europeanization of our labor markets

All of the extended and rextended and triextended benefits and the added hiring uncertainty have driven unemployment way up and labor participation way down.  Clusterstock points out that things actually look a lot better than they really are:  at 2000 labor participation rates (probably artificially high, but not that much) unemployment would be truly brutal.  As we make employment more expensive and riskier for employers we drive marginal workers out of the workforce to go on the dole or charity or to accept permanently straightened circumstances.

And our fearless leaders call this the "American Dream"