Not sure about the job market these days. PHP has become more OO like for the past 2-3 years since PHP5 (FYI PHP4 isn't OO). And java is OO from the start.
So by comparing the programming approach, they should be fairly the same. The only thing
you should consider is the number of frameworks and libraries for each language.
Eg PHP has Zend, CodeIgniter, Yii, Joomla, etc
Java has
JSF,
Struts, Spring, Vaadin, Hibernate, JPA, JGoodies, JavaFX etc (yet some of these are part of the Java EE platform)
Another difference is PHP is basically web or mobile web unlike java which has say Swing for desktop and Java ME for cell phones.
Oh another is the app server. PHP uses Apache or IIS (windows) while java has several to choose from such as
Tomcat, Glassfish,
JBoss, Websphere, WebLogic etc