Employers have stopped hiring excessive numbers of people to sit of their asses because companies can now get get more work for less pay from their young, bright employees, as well as outsource and automate other tasks with software.
Bottom line: today, there are simply too many educated potential laborers to expect jobs to keep up with demand.
Maybe. It would be interesting to think of the consequences of having a situation where there are systematically more laborers than work.
In theory, this means that everyone can work less, or perhaps not even work at all, while we are still able to produce enough food, etc. to give everybody a reasonable life. In practice we seem to end up in a completely different situation: those who have work are rich, those who don't become very poor.
Do we really need this? I downvoted you after reading this first sentence, although the rest of the comment is quite good.
Most of the times insulting doesn't help you in raising your point.