The unemployment rate is a bit of a red herring; it could almost be said to measure regulatory interference. Supply and demand are simple laws that tell us that for practical purposes everyone will find a job - the only real question is at what wage and whether wages are high enough for people to get a job.

We see from the participation rate [0] that wages are not high enough to get men into jobs (or they just don't have the skills to be able to work productively). Women aren't moving in to the labour market any more either which is interesting.

[0] https://en.wikipedia.org/wiki/File:US_Labor_Force_Participat...