The View From Your Recession

A reader writes:

I'm a college grad who has been unemployed for several months now.  I'm scraping by living and doing volunteer work at a hostel while searching for work, and living off a bare-bones unemployment check (which pays for food, that's about it) that is about to expire.  In applying to several entry-level positions in recent months in fields that are strong (social media and video game production), in the area that they are strongest (i.e., the Bay Area), I've noticed a disturbing trend:  In places I applied to, rather than being rejected outright or just not hearing from them, I'm getting responses saying that the job is "on hold," or that the position was "closed" without any hires.  They often note that I was certainly qualified for the position, they just can't afford to hire anyone right now.

I think the question has to be asked now, concerning unemployment:  If our economy is in "recovery," then what is preventing companies from actually hiring people?  I hate saying this, but this is feeling like another "Mission Accomplished" to people, especially me.