[rwj]

You shouldn't compare the unemployment rates between countries. There are different criteria for "unemployed", so measures in different countries don't measure the same thing.

Labor participation rates are more comparable. The US rate is worse than the EU rate.

[dantheman]

I would expect labor force participation rate to go down as your society gets wealthier. More education and more retirement.

[atmavatar]

Unfortunately, in the US, the rate has been trending upwards in the retirement age bracket for the last 20 years.

https://www.bls.gov/emp/tables/civilian-labor-force-particip...