That can't explain it. How can more people have jobs than ever before and at the same time we have had a net loss of jobs? The two 'facts' are mutually exclusive.
Assume we start with 100 people.
Half have jobs.
The population grows 50% to 150 people.
Half have jobs.
There are now 75 people without jobs.
Net loss of jobs in Ratspeak.
More jobs than ever before in reality.
Irrelevant in either case.