Amazing: 60 Minutes Reports Unemployed and Underemployed at 17.5%

CBS' "60 Minutes" reported the stark figure that the national rate of unemployment/underemployment is currently 17.5%. Even worse California's percentage is reported at 22%. All this reported a week before the election.

Via Larry O'Connor at BigGovernment.com (video report there):

"To put a face on the realities of the underemployed in America under Obamanomincs, reporter Scott Pelley spoke with a fiber-optics engineering manager who has been looking for work for over a year. He just took a job working at a Target. 20% of the unemployed in America have college degrees.

"According to the report, 1/3 of the unemployed have been out of work for over a year. This hasn’t happened since the Great Depression."

Is there really such a thing as a "jobless recovery," or is that just part of a prolonged problem?