Here is the real effect on the labor market as a result of the economic crisis. Much of this is due to Obama and the uncertainty his economic policies have created. When businessmen are unable to calculate the cost of an employee (Obamacare) and are afraid of future tax increases and see no recovery, they are not foolish enough to hire.
This graph and comments from Doug Ross @ Journal:
What’s fascinating about this graph is that you can see we appear to have been in a normal, run-of-the-mill recessionuntil the Obama “Stimulus” package kicked in 2009. After that point, the endless printing of money, the attendant stealth inflation, and the suppression of free enterprise by swarms of new government bureaucrats all conspired to crush the private sector.
Now imagine how much worse this chart would look had we removed all government workers from the equation.
