The blog of the American Historical Association has an article about the atrocious state of the job market. Until about 2007, there was a loose correlation between history jobs and history PhDs. Then, a massive drop in history jobs but an increase in history PhD production. Here’s the picture:
Terrible. In some areas, jobs ads are in the single digits. Intellectual history, for example, has two job openings!! The bottom line is that PhD production must be cut back to align with the market. And unlike other fields like economics, and even sociology to some extent, there is very little demand for PhD historians outside universities. Until cut backs happen, history will continue to have one of the worst job markets in the academy.
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Utopia, you are standing in it! 
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