Unemployment 50 years ago today was 5.5%.
Details on how unemployment rates are calculated can be found at the Fed. Reserve of St. Louis’ website. (http://research.stlouisfed.org/fred2/data/UNRATE.txt)
Source: U.S. Department of Labor: Bureau of Labor Statistics Release: Employment Situation Seasonal Adjustment: Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1948-01-01 to 2013-08-01 Last Updated: 2013-09-06 9:06 AM CDT Notes: The unemployment rate represents the number of unemployed as a percentage of the labor force. Labor force data are restricted to people 16 years of age and older, who currently reside in 1 of the 50 states or the District of Columbia, who do not reside in institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces. This rate is also defined as the U-3 measure of labor underutilization.