If the private sector is eating its seed corn by prioritizing short-term payroll savings over longer-term employee output value - and thereby undermining the middle class on which a stable successful nation and economy depend - then it is very much the business of government.
Certainly government must go beyond merely stopping the bleeding to ask if government itself is in some way inflicting the wound ... but stop the bleeding it must, notwithstanding any narrow-minded "free market"-uber-alles ideology.
Stop worrying about the private sector. If an outfit is stupid, they will soon go out of business. There are plenty of smart entrepreneurs out there. Capitalism is great in weeding out the stupid. We really do not want government setting wages, race preferences, gender preferences, etc. Our government (federal,state, local) are the most inefficient outfits out there. Nothing works efficiently and cost effectively in gov’t. I have seen it from inside!
My sincere advice to you is acquire skills which are in demand. Unless you are already old (over age 50) you have time to improve your job market value. One area I would look into is investment banking/brokers. Big money there.