Unemployment number off?

How are the Unemployment number being calculated?
I have a country with a total Population of 88,003994 of that 43,553,903 are Employed (49.49%) and I have 433,870 unemployed (1%) yet my ratings in the game show 3.5%.

The unemployment percentage is calculated as 100 - employed percentage.

employment is calculated as the number of employed, divided by the number of employed + unemployed.

There is a slight deviation when the employment is high and there is a delay in the calculation that may deliver slightly different numbers but prevents big jumps that are unrealistic.
new corporations never hire 200.000 people in a single month so it is smoothed.