I will use this as an illustration.
My company had an opening for a summer intern. The majority of those who applied had already graduated, some up to two years ago, in engineering.
Yet we keep importing more and more H1B’s.
Sorry, we have way to many in the STEM fields here to be doing that, but it is what the companies want. New engineers (who can find jobs, a majority can not) are working for less than I started at in 1998. They also have hundreds of thousands more in debt that I ever did.
New petroleum engineers have no trouble finding jobs.