All of these reports are fudged for political purposes. I know plenty of people out of work right now or working at a job well below their skill set and education.
We need to stop thinking the economy is "really bad"...and start accepting the fact that this is the new normal.
Is it bad in relation to the economies we have seen in the generations most of us on this board are part of...absolutely. However, sadly, we have entered a new world where mediocre is good enough to be considered "improving". Wages are flat, employment levels are a farce...welcome to the New America. Sigh...