Perhaps my university was unusually good (I do not believe that) but all of the people in my graduating CS class that I still have contact with are happily employed. I know this because about once a year I ping them asking if they want recommendations at my company... I'm trying to get those sweet referral bonuses...
> "The foreign workers aren't actually that high skilled and their education is questionable."
I work alongside many H1B people. They are all highly competent.