Reich confuses cause and effect. Politicians and regulators are imposing poor fiscal and monetary policies on the nation together with marxist take-over of industries, killing the economy. The “labor market” suffers as a consequence. The “labor market” is not dragging the country into another recession. Obama and his cohorts in Congress are.
Reich is a liberal. His comments here are as best as you can get from any liberal regarding the current economic crisis. Almost every liberal is currently drafted to shill for Zero.