If you count the long term unemployed along with the currently reported, 8.8 %, you're looking at nearly 20 %. That's what it was in the late 1930s. How you count makes a big difference.
Courtesy of Wikipedia
I wasn’t around in the 70s but I think you’re right about the employment situation. The unemployment rate isn’t quite to Great Depression levels but it is the worst we’ve had since then.
If you count the long term unemployed along with the currently reported, 8.8 %, you're looking at nearly 20 %. That's what it was in the late 1930s. How you count makes a big difference.
Courtesy of Wikipedia