It all depends on which unemployment rate you are looking at (G2 or G6) and whether or not you account for all the manipulation in the official statistics.

G2 hasn't been an accurate measure since the days of Bill Clinton when they tweaked who would be included. G6 is far more accurate, but still excludes a lot of people that I think should be on there. The Labor Participation rate is fast becoming one of the harbinger statistics because the other two official measures have been so warped by whomever is in office.

This article claims the unemployment rate is only 12% when its well over 30%.

A degree is overkill or irrelevant in many jobs outside the trades as well.

Many degrees are in my opinion, not even worth the paper they are printed on.

For example Gender Studies.

one of the things this highlighted in my mind was that the formal education apparatus is turning out too many people only qualified for jobs requiring a degree. The article mentioned that most of the jobs in question are in trades or other jobs for which a bachelor's degree is overkill or irrelevant. I believe that this is a by-product of the warped view of our education system that revolves around massive universities and a disdain for the gainful employment provided by carpenters, electricians, automotive mechanics, etc. where the education is less formal. I think we as a society tend to view formal/university education as the be-all and end-all and that's just not the case, nor are many people cut out for it. IMO, we need to be encouraging people to go into the trades and STOP pushing everyone into a useless four-year degree.

There always is work available, provided your mind is open to different things.

Too many people however, are not open to new things if it requires any effort on their part.