Unemlpoyment Numbers ?

Sure, 7.8% is worse than average 5.8% but nowhere near as bad as the more recent 9.8% in '09 (nor the 10.8%  back in '82).
To be honest, it could be a whole lot worse.
If we measure the economy based on the performance of the Dow Jones we are at 95% of our all-time high (13,473,58 October 10, 2012/14,164,53 October 7, 2009).
Things should be just swell.
But the NASDAQ average seems to be a more accurate indicator of the state of the country's economy.
Currently, we sit right around 61% of the average's recent pre-bubble high (3065.02/5049.62).
Judging by the I see around me and their level of confidence, the economy has only recovered two-thirds of it's highest level of production - not ninety-five percent.