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Yet, more Americans are employed than at any time in our nation's history.

Actually, more people were employed for most of 2000 (in non-farm employment) than now:

Employment, Hours, and Earnings from the Current Employment Statistics survey (National)

Series Catalog:

Series ID : CEU0000000001

Not Seasonally Adjusted
Super Sector : Total nonfarm
Industry : Total nonfarm
NAICS Code : N/A
Data Type : ALL EMPLOYEES, THOUSANDS

Data:

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Ann
1995	114551	115213	115972	116803	117523	118243	117008	117268	118180	118780	119017	119015	117298
1996	116315	117252	118056	118890	120017	120681	119642	119931	120673	121383	121842	121815	119708
1997	119269	120125	121007	121979	123052	123701	122709	122770	123770	124673	125063	125196	122776
1998	122636	123405	124121	125159	126240	126902	125833	126069	126874	127652	128052	128215	125930
1999	125462	126445	127158	128305	129176	129906	129039	129093	129867	130804	131262	131403	128993
2000	128763	129428	130526	131525	132481	132998	131777	131785	132450	133007	133372	133308	131785
2001	130433	131098	131690	132094	132800	133179	131686	131613	131871	132072	131880	131491	131826
2002	128602	129069	129672	130257	131023	131404	129959	130044	130559	131227	131346	130933	130341
2003	128248	128660	129148	129800	130559	130890	129549	129601	130253	131045	131207	131026	129999
2004	128365	128976	130019	131150	132068	132527	131384	131416	132127	133139	133406	133200(p)	131481(p)
2005	130538(p)

p : preliminary

In fact, as a percentage of the total population, we are not even close to a record:

Year	Population	Max Non-farm Employment	Percentage
2000	282192162	133372000	47.2%
2001	285102075	133179000	46.7%
2002	287941220	131404000	45.6%
2003	290788976	131207000	45.1%
2004	293655404	133406000	45.4%
2005	295507134(e)	130538000(p)	44.17%

Admittedly, the 2005 number of 44.17% is kind of fragile since the population number is just a census projection and the employment number is just a preliminary for a single month instead of a maximum for the whole 12 months, but generally it is useful to see that we sure aren't cooking with gas with respect to employment.