there is another graph from July in a link for the same criteria. Its about to dip below the 1948 recession as of July.

I got way off into the weeds over his comment about the benefits of veterans post war. I suspect there we other factors, increasing their benefits and pay. Noone talks about a recession of 48. All we hear about is the baby boom and some pristine economy. Perhaps the people who wrote about the baby boomer post war economy never looked at the graph. I remember a Carter debate, where he complained about the Ford economy of early 70's. By 78 those early years didnt look so bad. Somewhere along the line, someone decided 4 or 4.5% unemployment was considered full employment.