I do not contend that companies who have an effective monopoly can not do good things or produce inovation. However an effective monopoly is still not worth the risk because it is ripe for abuse We don't even have to get to monopoly levels to see private industry engaging in politics to limit and hamper new entrants to the market.
Unemployment is a sketchy measure, or at least the numbers we get from the BLS is anyway. That said the current unemployment is pretty middle of the road, in the last 40 years it has been worse and it has been better. I didn't intend that as a blanket statement and certainly not in absolute terms. I was trying to say that when a factory lets 500 menial laborers go and replaces them with robots and 50 people. The 500 that were let go aren't necessarily going to have any job opportunities. Some of them might get hired back as part of the 50, but it isn't likely and the other 450 aren't just going to fall into a new job because we aren't creating new jobs for that kind of work. Those people are actually likely to end up working some other job that is even worse for worse pay. You can visit just about any part of the rust belt to see the results of industry moving on technologically and geographically.
I don't know that there is a coined name for it but the idea that you are creating jobs by investing in the stock market is a joke. The only time your investment in the stock market is going to a company seeking funding to do anything like create jobs, is when you buy stock directly from the company. Most stock you purchase is being bought from some other investor that bought it hoping to sell it for a profit. And guess what they will do once you give them the money, they'll just buy some more from someone else. That money is not creating jobs except in the rare case that someone pulls out their cash and starts up some new venture that actually employs people or you buy stock from a company that is raising cash for expansion, and even in that case there is a good chance they are just going to buy robots to replace their menial workers.
Walmart and other companies that rely on unskilled labor are not competing for workers by any stretch of the imagination. I've never known someone who worked there and got a solid 40 hours a week and got raises consistently because they'd be too hard to replace. Shit, even the contracting company I worked for a few years back didn't do that and in theory we were a scarce commodity.
Welfare programs are definitely a boon and a curse. And like I said before capitalism has it's good and bad just like every other system out there, it is simply a matter of figuring out how to use it best.