President Obama's administration has presided over the best private sector job growth in American history. I know, right?

Courtesy of Forbes:  

Bob Deitrick – “President Reagan has long been considered the best modern economic President. So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ‘Great Recession.’ 

As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan. 

President Obama has achieved a 6.1% unemployment rate in his 6th year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. So, despite today’s number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration. 

We forecast unemployment will fall to around 5.4% by summer, 2015. A rate President Reagan was unable to achieve during his two terms.” 

Damn! That is going to make a lot of conservatives tear their hair out before slipping quietly into the soothing embrace of denial.

Now as interesting as I found this data, and boy did I find it interesting, I was also pretty amazed by this tidbit in the same article. 

Labor participation is affected much less by short-term job creation, and much more by long-term demographic trends. As this chart from the BLS shows, as the Baby Boomers entered the workforce and societal acceptance of women working changed, labor participation grew. 

Now that ‘Boomers’ are retiring we are seeing the percentage of those seeking employment decline. This has nothing to do with job availability, and everything to do with a highly predictable aging demographic.

What’s now clear is that the Obama administration policies have outperformed the Reagan administration policies for job creation and unemployment reduction. Even though Reagan had the benefit of a growing Boomer class to ignite economic growth, while Obama has been forced to deal with a retiring workforce developing special needs. During the 8 years preceding Obama there was a net reduction in jobs in America. We now are rapidly moving toward higher, sustainable jobs growth.”

In other words that whole "Real" unemployment that Fox News talks about as being people who have "just given up" and are no longer seeking employment, is NOT the result of lazy ass millenials who are discouraged by a lack of jobs and are now sitting on their asses playing X-Box all day and eating Cheetos, it is due to the Baby Boomers retiring and dropping out of the job market permanently.