In the Business world College is known as the new “High School” meaning that what you used to get educationally at that level now takes college to attain. I is by no means a guarantee of a job, meaningless and non focused degree tracks yield debt and no employment in the chosen dicipline.
Trade schools and associated “blue collar” skill sets are in high and continuous demand but the perception of many is they are not as good as a degree. Look up the term “guild” and it’s provenance, the whole model is built on competency in a given discipline or trade. Colleges are good in some cases providing “theoretical” knowledge but few if any courses are taught by individuals who have ever used their knowledge in an actual work environment. Many if not most in the Edutocracy feel that there is no real difference between the two (theoretical versus practical application) and they could really care less as long as they get paid.
Companies are looking for people now with experience using knowledge (called wisdom) and are not anxious to hire newbies looking to have them be a proving ground only to have the newly trained employee (think investment) fly off to another company. This is also a false model as company culture, systems and methods vary widely and it can be very hard to take someone who is deeply acculturated and have them adapt to a new one especially if they do not have all the right elements in place to help in the process and reinforce their way of doing things.
Just my 2c as I have researched this subject extensively and I am no fan at all of the current college/university model as anything more than a way for them to soak up Student Loan dollars and turn out graduates who still have no clue what they can do with their degree and what they purportedly “learned”