No, we have a labour glut (unemployed people) and a jobs glut (work not being done) at the same time. In other words, a market failure -- caused in part becaus

No, we have a labour glut (unemployed people) and a jobs glut (work not being done) at the same time. In other words, a market failure -- caused in part because for work which is valued at less than minimum wage, the market can only function by evading minimum wage laws.