Long term, yes, short term, it would just be another increase in the unemployment rate and would probably hurt more than help.
Short Term, it would be Fantastic as well!! Businesses would immediately see the improvement, the reduction in Harassment, and the burden of responding to all of the federal Parasites and would be hiring and expanding like Fleas on a Good Horse! Heck, the Private sector might even find one or two of the Federal Parasites that might actually be employable in the For Profit Private Sector!! all tho I rather doubt that!!!