Reply #2: Also depends on how accurately the unemployed are being counted

[Emit]

http://www.bls.gov/cps/cps_htgm.htm

Edited to add a bit from Thom Hartmann's article:

Do a little math. The Bureau of Labor Statistics says there are 7.6 million unemployed Americans right now. Another 1.5 million Americans are no longer counted because they've become "long term" or "discouraged" unemployed workers. And although various groups have different ways of measuring it, most agree that at least another five to ten million Americans are either working part-time when they want to work full-time, or are "underemployed," doing jobs below their level of training, education, or experience. That's between eight and twenty million un- and under-employed Americans, many unable to find above-poverty-level work.

http://www.commondreams.org/views06/0329-21.htm