Unemployment: Cutting the Long Tail

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It is said that the economy is improving and unemployment is low but I don't see any proof that there is a hiring boom anywhere. All I do see is former workers giving up hope and stop looking for work. Apparently, the government likes to consider unemployed citizens not looking for work as not really unemployed just to make the numbers look good. Will Americans ever sense that something is amiss once unemployment is still at an all time low but more than a hundred million citizens have given up hope for a job?

Yep, that's true. They no longer consider people who have given up on getting a job among the employed. Then they compare the unemployed rates with the great depression and say, "It isn't that bad, our employment rates are doing good compared to that." But, if you include the rates of those who have given up on employment, then our current unemployment rates aren't far off from the great depression...

On the other hand, this guy who lives down the street has three jobs, and my parents tell me that if he could get three jobs, then I should be able to find at least one...