Seems like this would just help create the exact same situation as in academia: way too many people (i.e. Ph.D.s) are qualified for way too few jobs.

Else, a whole bunch of bullshit jobs would be pulled out of nowhere, and we'd have teens spending their summers making internal websites for banks.

If there's really excess money burning a hole in someone's pocket, I'd rather see it go to a community garden or something than creating artificial demand for even more tech.