Just because you are employed does not mean you have a good job and the "unemployed" does not include those who have simply given up looking for that good job or people who's unemployment insurance has run out. It is somewhat a bogus number to make administrations look better. The labor participation rate is less than 63% and that is only about
5% higher than it was in 1950 when women were expected to stay home and raise the kids. A third of eligible workers are not working. (as defined by US BLS "The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.")