The sad truth is that it’s costly and risky to hire anyone to do anything, and “bankable projects” that might generate profit/require more labor are few and far between. The overhead costs for employees have skyrocketed. So even though the wages employees see on their paychecks have stagnated, the total compensation costs the employer pays have risen substantially.

via charles hugh smith-Dear Person Seeking a Job: Why I Can’t Hire You.

Go read this article.  There are quite a few insightful observations.