Burdened with debt, few marketable skills...and their so-called "loser" buddies who went straight into a trade are only about 25% unemployed vs 85%.
I'd bet 1/2 the waitresses in the US have a degree...along with the beauticians.
It's as big a scam as "real estate will always go up".
It all begins with the fact that most recent college graduates have far less than what used to be a public high school education. They have a “sheepskin” that represents very little in the way of actual learning.