The USG is claiming 7.3% unemployment, mostly due to people dropping out of the workforce:
In the meantime Gallup is calling it 7.6% unemployment and oh by-the-way, 17.1% U-6 un and under employment.
As to why you younger folk can't find work, it's probably because no one wants to hire a full time worker and find that the cost of keeping them is ruinous when they can hire a retired person part time with no benefits a whole lot cheaper. Since we already have Medicare, Medicaid, Part D and pay for our own Medigap insurance, nothing further is needed. Besides we don't want to work full time.
On that note I'll be going back to work this coming Monday, depriving some young college grad of a position which would otherwise allow him to get married and support a family, and providing me with enough extra disposable income to buy that used Jaguar I've been lusting after.