H1B, H4 Visa

Hi All,

I got 221-G, the Officer asked for all the listed document from employer, I sent all the documents through VFS Bangalore, 2 week late i got my passport with a letter:

" Based on the document you have submitted to us, and the information elicited in your interview with an American Consulate Officer,we are not able to issue you an H-1B temporary work visa, because:

____ Your petitioner does not appear to be either able or willing to provide qualifying employment in the United States in accordance with appropriate laws and regulations.

In accordance with United State laws and department of state guidelines,action on your case has been suspended,and the I-129 Petition for a Non-Immigrant Worker filed on you behalf will be returned to the United State Citizenship and Immigration Services(USCIS) with a memorandum explaining the facts of your case as presented to us at the time of interview. The U.S. Consulate Chennai is no longer handling your case,and will be unable to give you any information on the status of your petition.

For more information,your visa was refused today under Section 221(g) of the Immigration and Nationality Act(INA). Essentially ,this section sates that a visa cannot be issued to anyone whose application does not appear to the Consular officer to meet the requirement of the INA or of the regulations thereunder.
"

The above letter i got from Chennai Consulate.

Please help me on this letter...
Does it mean the my H-1B reject or their is any chance.

Thanks in Advance
XYZ