The Real Unemployment Rate is the U6

The core rate of unemployment, which is always reported, is deceptive. It is a percentage of people earnestly looking but completely unemployed. However, a lot of Americans want to work again, or would prefer working full time, or went back to school due to lack of employment opportunities. The real unemployment rate is the U6.

U-6: total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force, plus all marginally attached workers.

More about unemployment:

Wikipedia On Unemployment

March 2013 Jobs Report Like Using Guillotine For Headache

It's only a single month of stats, but the matter of the unemployment rate dropping due to massive work force reduction points to other systemic issues.

March Jobs Report

We are approaching the long anticipated Boomer retirement "bubble" and almost 500,000 just quit trying to find work in one month.

Boomer Retirement Bubble

Retirees are depending on solvent Social Security and Medicare programs. Those are paid by current workers, just as the retiring boomers paid for their parents' services.

Retiring Boomers Retirement Readiness

There are virtually no defined-benefit plans left in the private sector. We cannot all work for the government.

Disappearing Defined Benefits

So the "drop" in the unemployment rate was just a number placed on top of mounting evidence that the boomer retirement bubble will spur crisis.