The interesting point to me is that we have an economy which, when the going gets tough, can afford to employ some 75-85% of the people it ordinarily does, and that when we've been close to 0% unemployment, it's been because of unstable luck and not underlying robustness. It's somewhat surprising to me that we don't live in a time where we can comfortably afford to employ >>100% of the people in the system.
(Well, either that, or we do live in such a time but our economy doesn't know how to allocate resources in a way to make it work.)