Bill McBride at Calculated Risk notes that the employment to prime age (25-54) population ratio has increased since the trough (unlike the employment to working age (16-5) population ratio. He gets a link for saying I am still prime age (if not for long).
I steal part of his graph (fair use) to note that the employment to prime age population ratio is now just about identical to what it was when Ronald Reagan was overwhelmingly re-elected in large part because it was morning in America (the unemployment rate was 0.5% lower then)
See also Krugman for some highly informative crunching of about three numbers (really 6 time series plus three sophisticated tools not available to most pundits -- multiplication, addition and division. Paul Krugman is losing his patients with you guys and, if you don't pay attention, will use subtraction (with extreme prejudice)).