Recovery: Participation Rate in Labor Force Matches 35-Year Low

Recovery: Participation Rate in Labor Force Matches 35-Year Low (MarketWatch)

Ouch.
The economy gained a meager 74,000 jobs last month, the weakest result since early 2011, according to government data released Friday morning.
Also not good: The participation rate in the labor force declined one-fifth of a percentage point to 62.8% in December, matching October’s level, which was the lowest since 1978.

No need to worry According to the Obama White house America is still well on the 'Yellow brick road'.

Hi, everybody. Yesterday, we learned that in 2013, our businesses created 2.2 million new jobs – including 87,000 last month. 

Our unemployment rate is the lowest it has been since October 2008. And across our broader economy, there are signs of progress. 

Our manufacturing and housing sectors are rebounding. Our energy, technology, and (Italian) auto sectors are booming. 

Thanks in part to the reforms in the Affordable Care Act, health care costs now eat up less of our economy – over the past four years, costs have grown at the slowest rate on record. And since I took office, we’ve cut our deficits by more than half.Read the full 'statement' here.