[ChildOfThe60s]

I thought it would be much higher.

It is.

This article is highlighting a single variable.

The definition of "employed" includes a lot of people that a practical person would hardly consider employed in a realistic, real world sense. 2 hours a week mowing lawns is defined as fully employed in that mythical 5.5%.

The 50 hour a week $60k middle management person is counted the same now that he is working 10-20 hours a week for minimum wage.

And so on, ad nauseum.

[nascarnation]

Yes you have explained it quite well.