THE JOBLESS RATE HAS FALLEN, BUT IS MASKING UNDERLYING PROBLEMS: “One reason for the sharp decline in the official unemployment rate is that the overall pool of workers has fallen dramatically since the downturn. That has sent the labor-force participation rate to three-decade lows. Fed officials believe many of those workers will come back as the labor market strengthens and offers them hope of once again getting a job. But a large share of them are baby boomers entering retirement who won’t return. Participation among those of prime working age—25 to 54 years old—remains low historically.”