JAY LENO: Well, according to the Labor Department, unemployment fell from 8.3 to 8.1 percent last month. But that was because only, that's because, rather, 368,000 Americans gave up looking for work. And today, President Obama said that's a step in the right direction, and he is encouraging more Americans to give up looking for work so the numbers will come down a little bit.
In reality, most of the drop in the unemployment rate since its 2009 peak is due to a decline in the labor force.
In fact, according to Zero Hedge, the real unemployment rate is currently 11.7 percent.