@npc: you really should look for a book called "how lie with numbers".
The hack job web site you listed, can only fool those who are willing to be fooled. Labor Force Participation, is the number that's the most susceptible to context.
Labor Force Participation, is at its lowest point since 1978. The problem with this raw number, is that it does not take a couple of things into consideration:
1. The Baby Boom Generation effect. These folks are retiring from the labor, and are not actively looking for employment. When the crisis hit, some of them hung their hats, and some reached retirement age.
2. The psychological effect of the worse, combined, financial/housing/labor crisis, to hit our country in 100 years. This accounts for about 0.5% of the net effect.
In reality, and barring another baby boom, Labor Force Participation, is going to continue its decline, at least for the next decade. Ironically, the illegal Latino (and other) injection, may (and I repeat, may), in about a decade, create an uptick in Labor Force Participation.
I am really amused how many people, simply read a one-sided web site, and treat it as Gospel.