Lede, Buried: Labor Force Participation Lowest Since 1981 May 3, 2012

Liberals are unquestionably hailing the news this morning that businesses added 115,000 jobs in April and that the unemployment rate dropped to 8.1%.

"The trend is in the right direction," they'll say.

Let's leave aside the fact that, just to keep up with population growth, we'll need at least 200,000 jobs per month added to the workforce to keep our collective heads above water.

And let's leave aside the fact that there's really nothing to cheer about regarding an 8.1% unemployment figure.

And let's leave aside the fact the unemployment rate was actually lower when Obama took office.

Gas prices were lower, too.

Let's push all of that aside for just a moment.

And now click this link.

That, my friends is the story du jour.

Participation in the workforce is the lowest that it's been since 1981.

And, since the unemployment rate is calculated based on workforce participation, we see an artificial "drop" in the unemployment rate.

The unemployment rate "drops" because people just are too discouraged to keep looking for work.

For some reason, the Labor Department thinks those people don't count.

Which is convenient for Obama's re-election campaign.

But not so convenient for frustrated, unemployed people who just want to pay their bills.

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