Actually we have a shortage of engineering graduates. China and India graduate more engineers than US. We will soon have a big shortage of medical doctors, because many older doctors do not want to deal with paper work required for Obamacare, Medicare & Medicaid.
So the problem is really not too many college graduates, rather it is too many graduating with liberal arts degrees.
I haven’t had an American-born physician since 1983 when I entered the V.A. system. Nurses, technicians and P.A.s? Sure. Doctors? Not a one. Not even specialists. Other than one podiatrist, now that I think of it.