It seems to be the major knock on the government’s interaction with business is that “uncertainty” is holding back job creation. Looking through Google, it seems that the talk in the media about uncertainty was present before, but accelerated in 2011, especially leading up to the debt limit showdown.
Pundits simply can’t argue that divided government brings stability and job growth when people are panicking about the fiscal cliff (which was created after the 2010 elections) and possible defaults by the Federal government, not to mention past and future concerns about government shutdowns due to budget disputes. It simply makes no sense at all.
The idea that government regulations have a negative affect on employment has not been established (my employer has added several high-paying jobs to comply with new foreclosure regulations, for example). Simply put: employers don’t hire because Republicans get elected. They hire because they have more work than their existing employees can keep up with.