Just maybe, this means that there are few well paying jobs available and that colleg grads are forced to settle for service sector jobs, as that is mostly what there is.
For instance, every summer there are paid internships at certain banks for the college bound that want to work in the banking industry.
For every internship, there are as many as thousands of applicants of which dozens are ‘invited’ to interview. After as many as 4 interviews, only one applicant is selected.
It is hardly surprising that college grads cannot find work in their chosen fields.
De industrialization causes white collar jobs to go away too. Factory middle management jobs are gone, gone to China.