It’s actually higher. That chart (and most like it I have ever seen” defines “unemployed” as “unemployed and looking for work.” That number, for obvious reasons, is smaller than the total number of people “unemployed period.” Lots of people are unemployed and give up looking: living on benefits, welfare, couch surfing, deciding to move back with parents, being homeless, etc. In a down economy lots of people leave off looking entirely and stop being counted in the number as time goes on. It also discounts “under-employed” people. People who, say, have a University degree or trade who used to have prospects, but are now working minimum wage jobs that barely keep groceries in the fridge. They are definitely “employed,” but I doubt if they would say they were employed in the same way they were when the economy didn’t suck. An ex-lawyer putting on tight leggings to get tips tending bar might keep the lights on, but I doubt she’d feel the economy was giving her much, even as she counts as employed.