I sometimes see job ads on facebook. I have no idea if this is true in general, but in my case, I have been surprised at how good of a match they tend to be. I am not sure exactly what characteristics the employers are targeting when they set up the ad campaign, but I can guess based on the fact that one or two of the ads specifically stated that the company employed other Caltech grads (I have a BS in CS from that school).
Job fairs from universities are amazing places to find talent (and that cheap ;)). They aren't refined yet, but if you find the right people they are willing to learn, and are usually fast at it.
Yeah, the young talent still in school still have a hard time finding work. They are so desperate, they would take basically anything they can get their hands on. Give them a good proposition - a reason to work hard and stay!