The low unemployment rate that Obama likes to tout is misleading. It doesn’t take into account the near record low labor participation rate. Millions of Americans are not included in the employment numbers because they’ve stopped looking for work. That means they are not included in the unemployment rate:
Estimates about ‘good’ monthly job creation vary. One financial manager, Ed Butowsky, estimated that 350,000-400,000 net new jobs would be needed in order to close projected budget shortfalls at current tax revenue levels.The Economic Policy Institute forecast in 2015 that the economy would need to create an average of 246,000 jobs per month in order to absorb potential job-seekers in the labor market and reach pre-recession employment levels by August 2017.