The answer many sources provide is "technically, no, unclassified is not a classification", but they often are referring specifically to Unclassified SBU or FOUO. Besides that... any answer that begins with "technically" whatever is obviously not an official source. Seems odd that there is so much ambiguity on what seems to be a subject with very clear and strict guidelines.
My first objection to this is on page 2 of this link. Notice... "REPORT SECURITY CLASSIFICATION: UNCLASSIFIED".
Second, NSA Type-1 encryption keys can have each classification "Unclassified", "Secret" and "Top Secret" for NIPR, SIPR and JWICS DoD networks respectively. Although Type-1 encryption keys are controlled items, the encryption key itself is designated to each level of classification. But I suppose that only implies that "Unclassified" is a classification since there is a key for it.
Third, if unclassified is not a classification then why do the SF 710 labels and (U) markers exist? They clearly identify the classification of the information and documents as Unclassified as opposed to Confidential, Secret or higher.
Sorry if the question seems trivial but there are way to many people who fall on both sides of the argument while there is only one right answer.