Just this week, Defense Secretary Robert Gates announced a plan that could cut thousands of jobs... and the House voted on a $26 billion dollar bill to protect roughly 300,000 education and government workers.
But where does all this job news leave the average job hunter?
On my web show today, employment expert Ellen Gordon Reeves said it's easy to get discouraged. As of July, 1.3 million Americans had been unemployed for 99 weeks or longer.
But with so many people in the same boat, there's no longer a stigma attached to getting laid off or having a gap between jobs. Just be sure to use that gap wisely - pursuing your passions, taking courses and networking with anyone you can.
And most importantly, she said, try to stay positive. Even if the economic recovery is shaped like a "U," you can still recover.
That's a page from my notebook.
I'm Katie Couric, CBS News.