Another pie chart for billb to misinterpret...

[Acer]

IIRC 5% is functionally full employment, as at any given point in time 5% of the workforce will be in the process of changing jobs for one reason or another in the best economies. If you get below 5%, that's actually a bad thing, as too much competition in the labor market creates salary inflation, which causes real inflation as too many dollars chase too few goods.

So, 10% is not really a big deal as long as its temporary. Unless YOU are the one of the 10%, of course.