I think that the accuracy of the unemployment side of that chart is the reason to view it with some skepticism. We’ve seen many instances of how the feds lie with stats to make the employment picture look rosier than it really is.
Those are long-term numbers based on the private (ADP) stats, not the bogus Federal Household Survey. They are based on actual paychecks produced by ADP year-over-year and are pretty dependable.