The modern-day record, in terms of the unemployment rate, is the 10.1% we achieved in June 1983. We're fast approaching the supposed peak of 10% provided earlier in the year by economists, and everyone is wondering, "What's over that next hill?" The media has long reminded us that employment gains will lag improvement in the rest of the economy, but no one is quite sure just how "laggy" we'll end up. Most educated guessers agree that, even in the best of all possible worlds, we won't start adding jobs (or at least offset losses) until early 2010. According to Michael Feroli, a JPMorgan Chase economist quoted by the New York Times, "It's going to be a long, long time before we see 6 percent or 7 percent."

At least there are continuing signs that the imprisoned economy has thrown off a shackle or two. August manufacturing activity rose for the first time in 18 months, and, says the National Association of Realtors, the number of pending home sales hit a two-year high. During the month, education and health services -- with a combined gain of 52,000 -- were the only two areas without a net job loss. In the 20 months since December 2007, the ranks of the unemployee have swelled to more than 7.4 million. The most notable staff cuts in recent months are charted below and on the following pages. If you have something to report that's not on this chart, drop us a line at pinkslipped@vault.com.