There are so many students and graduates that are not in employment not because there is no employment but simply because students are not prepared for the industry.
I have over four years experience in software development and I can testify that I have only applied about two percent of of what I learnt in university.
In the company I'm working for currently, I have been part of the panelists when interviewing individuals looking for employment and one thing I have realized is that Universities do not prepare students for the industry.
Applications or the kind of technology used in the real world keep changing rapidly while schools or university still teach the same technology that was taught years ago.
Basics should be taught but students should know what they will be dealing with in the real world, students should be exposed to real world solutions.
Technology has grown so rapidly such that companies no longer use raw html and CSS to develop websites but frameworks that are fast and efficient but when you ask a fresh graduate from university, they apparently do not know what these frameworks are. Companies nowadays are looking for people that can get the work done real quick and not someone they will start teaching. These should be the technology students are familiar with even before they graduate.