The current games that are being played with unemployment statistics can’t be applied to the way unemployment was calculated then. Did the unemployment figures capture every single person who wanted work but could not find it? No, it didn’t, probably not even close. But, if you’re working from the assumption of 25% unemployment, then you’re looking at 75% employment, as employment was defined at that time. Our current unemployment numbers do not count the “discouraged,” as you noted, independent contractors or illegal aliens. The last two have served to mask just how much job loss there has been in the past year, imho.