This was as the scary chart as posted by the Economist Brad DeLong. He titles it:
"Less than 100,000 Payroll Jobs, a 58.5% Employment-to-Adult-Population Ratio Exactly Where It Was a Year Ago, and Labor Force Participation Down by 0.5 Percentage Points in the Past Year"
Source (hat tip nc)
Note that Mr. DeLong believes that it was a lack of serious stimulus that has sunk the economy. While I would agree that stimulus would not have been as bad as the seriously flawed medical program we got, I think we are pretty much where we would be in any case. We have been kicking the can down the road to some degree, but there is a very definite possibility that if that had not been done our economy would have imploded and we would have had a militia-favorite collapse scenario. Bubbles push economies beyond the normal corrective patterns.