We're at less than 7% unemployment. People aren't going hungry. Technically not a recession, but it will be soon. Depression? Absolutely not.
He discovered that non-standard definitions of unemployment disagree with the standard one (U3). Yes, unemployment is 8.4% if you include people who "would like to work" but haven't actually looked for a job (U6). His super secret definition of unemployment might even give a 12% unemployment rate. So what?