Well, we're in a recession.. whaddaya expect?? Take it all in perspective... The fact that 500,000 jobs were purportedly "lost" in one month brought the unemployment rate up to 7.6%.. Remember though, that the Department of Labor regularly adjust figures 2-3 months down the road and the adjustment is usually downward. See the link on U.S. unemployment rates from 1948-2007.
http://www.bls.gov/cps/prev_yrs.htmWhether or not the figures are generally accurate are debatable. Kinda like estimating the number of jobs the "Stimulus" bill in the U.S. Congress might "add" or "Save"...
Year Ann Avg
1948 3.8
1949 5.9
1950 5.3
1951 3.3
1952 3.0
1953 2.9
1954 5.5
1955 4.4
1956 4.1
1957 4.3
1958 6.8
1959 5.5
1960 5.5
1961 6.7
1962 5.5
1963 5.7
1964 5.2
1965 4.5
1966 3.8
1967 3.8
1968 3.6
1969 3.5
1970 4.9
1971 5.9
1972 5.6
1973 4.9
1974 5.6
1975 8.5
1976 7.7
1977 7.1
1978 6.1
1979 5.8
1980 7.1
1981 7.6
1982 9.7
1983 9.6
1984 7.5
1985 7.2
1986 7.0
1987 6.2
1988 5.5
1989 5.3
1990 5.6
1991 6.8
1992 7.5
1993 6.9
1994 6.1
1995 5.6
1996 5.4
1997 4.9
1998 4.5
1999 4.2
2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
2005 5.1
2006 4.6
2007 4.6
rather cyclical and the early 80's 9.7% is the max for the last 60 years.. Note the 1992 7.5% that got Bill Clinton elected (Democratic talking points then; "worse economy since the depression"..)