Art historians definitely suffer when the economy goes bad. Over the past few months, I've looked several times for positions related to art history in my area without luck. After reading this post, though, I'm realizing that the employment problem is widespread. Not only is the poor economy creating less jobs for art historians, but there are too many people completing doctoral programs in the humanities. The supply of potential professors far exceeds the current demand.
Sometimes I wonder if it would be better for me to get a secondary teaching certificate, so that I could teach AP Art History. Is it even worth considering a PhD program if you can never find a job?