The submitted article contains a key fact, "The problem with this picture is that there are 10 PhD graduates for every tenure-track position. And, while I don’t have figures, the industrial labs don’t hire at a much faster rate either. And that left regular industry jobs as the only viable option for the vast majority of PhDs," which actually applies to a lot of academic major subjects.
The humanities are worse: http://jseliger.wordpress.com/2012/05/22/what-you-should-kno... .