[1rudeboy]

If not eligible for unemployment, your unemployment insurance has run out, you're self employed, or an unemployed farm worker, you no longer exist.

False. Please read.

[concerned about politics]

False. Please read.

True. 7.7% only represents those who are collecting unemployment benefits. The U6 (last I checked and the best guess they can make ) is at 15.9% unemployment.
It all depends on who the administration decides to count and report on (or which number makes Oboma look better).

Jobs have been dropping like flies in an insecticide plant, yet the "official" number of unemployed is going down just as fast. That doesn't raise any red flags for you?