Good question! I believe there is an easy explanation. This is in no way a hit on Smith or their integrity... this is just the reality of MBA employment reports. All Schools do this: notice that there is no category for "unemployed" or "failed to recruit" or "deported" (hopefully not anyone). But the reality of the employment reports is that they tell you where people are employed at. It does not tell you where the graduates are. For example if 50% of grads were employed and the other 50% were still looking for the job at the time of the report being published, you would only figure that out based on the "reporting number" which usually is tucked away somewhere and you have to compare it to the class size which may or may not be included in the report.
This is a classic "GMAT" style CR question - find the discrepancy...

P.S. We tried to solve it in the GMAT Club Rankings by looking at the class size and the number of folks that were recruited
https://gmatclub.com/forum/gmat-club-mb ... 35846.html