I am firmly convinced you are correct. Initially I applied for positions in the general range of my skills. Over the last couple of months I've applied for entry level positions in banks, grocery stores, hotels and the like. I have a college degree, 25 years of work experience and never been fired from a job...so I have work references. There are far more applicants than there are openings. I am willing to take less than my benefits provide, although if I do so I'd prefer that the location is a bit more rural so I might grown some vegetables to supplant an exceedingly low income.
I hear ‘overqualified’ a lot when I actually even get a call about a job. It’s frustrating beyond belief.