You're assuming there are enough jobs out there for everyone who has a college degree, and that is not the case. How many college graduates do you think are forced to settle for jobs that they don't want because there is nothing available in their field of study? I remember when I was dating a British woman about 7 years ago the big job opportunity in her country was in plumbing. People with college degrees were on the dole while those with plumber's certificates were prospering. People value those who keep their toilets operating more than they value those trained in math or science.