The problem really is the entitlement mentality that has grown up around a degree. If you are getting an education for the purpose of being an educated man, then you have no false expectations about the kind of job you are going to get. You will get an education, and then you will look for work. You will find an opening and plan to work your way up as you learn the ropes and prove yourself worthy.
But too many people have the idea that a degree means that you must be issued a job in accordance to your (elevated) station in life. Which means they will be highly disappointed when the discover that a welder with a rig in the back of his pickup is making more money than he is. Which might actually contribute to the kind of resentment we sometimes see against industries that generate well-paid blue-collar employment.
The other problem is that there is no desire to become an educated man. Certainly not among the majority of college students.
When you are told that you need a college education to get a good job. Then you go through all the worthless hoops to get one only to stand in the unemployment line while the highschool drop out has a house and good job. Why not be upset?
Having taught at a university was also disappointing. The students in the department I worked in had trouble getting jobs after graduation because the industry had moved to China. During a department planning retreat, enrollment was brought up. I suggested that it was unethical to promise a job using your degree when we knew there were no jobs out there. The state of denial that I received was distrubing.
That's not how it works today. Prerequisites for most middle class jobs require specific college degrees. Even a lot of working class jobs require some professional licensing or certifications. People don't get hired on a wink and a smile today unless you know people.