BTW, the BLS shows a different set of numbers than you claim
We are unfortunately now into that goober's second term and the unemployment rate is still dismal.
And the only reason the unemployment rate has gotten any better is that the labor force participation has gone down over the last 4 years. I keep saying this again and again but people giving up EVER finding a job is not a good thing.
And that 10.3% unemployment rate in the early 80s is due to what we should have done over the last decade or so, namely increasing interest rates, letting the at least one of the successive bubbles we've been in deflate to set the stage for a real recovery.
Instead what we've done is blow more and more air into repeated bubbles, which is going to result is some ugly long term pain before long. We're past the point of having a happy middle ground. Either the fed is going to run out of lung capacity to keep blowing the bubble resulting in the unwinding of all that leverage and the ensuring deflation OR the fed is going to keep blowing and blowing to the point we see a hyper-inflation event. There are several factors that make me think the latter is the more likely of the 2, but only by 60/40 or so...