No, there are lot's of factors involved, none of them were created by Obama though.
Our school dropout rate is at a record low, and we have the highest percentage of our population ever attending college. Many of those people are choosing education over immediately entering our workforce.
More males are deciding to be stay at home parents, and the trend for females joining our workforce peaked years ago.
And certainly there are some folks who decided that if they can't find a job in their preferred field making a decent wage, that they can afford to not work (early retirement, single income earner families, etc). Yes, it IS a sign of a less that booming economy, and a result of the Great Bush Recession, but it is also about technology replacing the need for human labor. This trend will continue to some extent, even if our economy was booming.
I can't think of a single thing that President Mit Romney (or anyone else) would have done to keep people from retiring, or to get students to drop out of school, or to force stay at home spouses to start seeking work. It's simply not an Obama issue.
Obama isn't requiring that people retire, or that they go to school, or that they become homemakers. Back in the olden days, these were considered positive traits by conservatives, I really don't understand why conservatives are rejecting good family values. That's part of the reason why I left the republican party.