Today's employment report from the BLS shows that we are still shedding jobs (only 85,000 this month, though; woo-hoo!). The unemployment rate remains 10%. Graphs like this one (from Calculated Risk) help make clear why some folks call the the Great Recession. You can see that the employment-population ratio hasn't been this low since 1983. This is most likely not because people are opting for more leisure.
Update:Here's a link to the BLS employment report.