New Employment Numbers
The job market sucks

Employers added only 56,000 jobs in October, well below the 150,000 or so that are needed to keep pace with population growth. The Labor Department also said that 36,000 fewer jobs had been added in August and September than previously estimated.

And it's not just the number of jobs:

Researchers at the New School University in New York found that only 41.8 percent of the working age population has found employment in jobs that pay adequate wages

and

John Schmitt, a labor economist at the Center for Economic and Policy Research, concluded that the share of workers with “good” jobs – defined as jobs with wages of at least $16 per hour, health insurance and a pension – has remained stable from 2000 to 2004 at about 25 percent. The shares of younger workers and of workers with less education with good jobs have actually declined during those years.

Sure paints a dirtier picture than 5% unemployment doesn't it?