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Not sure how it is in the US but in my country we have way too many people graduating from colleges, and not enough from vocational school.
It result in the interesting situation where people from vocational school can land a cushy job quite easily, while people from colleges can’t find one, and when they do, it usually doesn’t pay well.
We don’t have debts problems here though...
That's essentially the same problem here. I found a technician and offered him a job by basically finding a way to classify him as four grades higher than some other managers who don't understand the job market would. He responded by saying "sorry" because he'd gotten a job for Lockheed Martin paying 180% of what I had just offered him. How do you even respond to that? The market for techs is absurd.