Economic forces in the world beyond your graduate program might be such that there aren’t as many jobs suited to your Ph.D. chemist skills as there are Ph.D. chemists competing for those jobs. Among other things, this means that earning a Ph.D. in chemistry does not guarantee you a job in chemistry on the other end.
To which, as the proud holder of a Ph.D. in philosophy, I am tempted to respond: join the club! Indeed, I daresay that recent college graduates in many, many majors have found themselves in a world where a bachelors degree guarantees little except that the student loans will still need to be repaid.
To be fair, my sense is that the mismatch between supply of Ph.D. chemists and demand for Ph.D. chemists in the workplace is not new. I have a vivid memory of being an undergraduate chemistry major, circa 1988 or 1989, and being told that the world needed more Ph.D. chemists. I have an equally vivid memory of being a first-year chemistry graduate student, in early 1990, and picking up a copy of Chemical & Engineering News in which I read that something like 30% too many Ph.D. chemists were being produced given the number of available jobs for Ph.D. chemists. Had the memo not reached my undergraduate chemistry professors? Or had I not understood the business model inherent in the production of new chemists?I haven't had time to formulate an appropriate response -- needless to say, go and read the whole thing.