I think part of the problem is that it's hard to discuss the problem and solution in a way that is both descriptive and productive. I think these are a some of other issues:

1. I think too many people attend college (in the US at least). College is expensive, and the ease with which students can attain loans to attend has made it something that people probably take too lightly. There's still a perception that if you go to college and study "something," when you graduate you'll get a job from the magically place where jobs come from. This perception is being challenged, but it's a barrier.

2. The fields of study that tend to lead to higher paying roles also tend to be more challenging. The difficulty and popularity is somewhat "priced in" in the microeconomic sense. For instance, I think our society romanticized the humanities and arts, despite the harsh reality that these programs leave students with few concrete/marketable skills. And while I'm not saying that we should gut arts and humanities programs, I would argue that right now that skill-set is in low demand. Statistically speaking, the chances of success are low and the roles of distinction are scarce, leading to higher unemployment rate for certain fields of study. Add to that the general scarcity of good jobs, and an increasingly competitive economy as developing countries rise out of poverty and converge to the developed ones.

So what do we do? 1. I think our society should better educate it's citizens on these issues (what are the value propositions of certain fields of study, what can people do to be more successful, etc). I think we could also use some gov't coordination to ensure that the skills being learned match the desired skills of the market. Anecdotally I know of many firms that are hiring, but feel there's a mismatch between the skills available and those desired.

2. I think we should find some way to provide employment for at least some of these un/underemployed youths. The Civilian Conservation Corps from the Depression Era U.S. comes to mind. Basically, citizens were given the option to work on gov't infrastructure projects as an employment option. I like this because it both provides assistance to the unemployed and allows society to recover some of the cost of helping its citizens.

And congratulations, shanelja. The situation among some of my friends has been pretty bleak... It's always nice to hear an uplifting story...