Demand is increasing due to the college wage premium, which keeps widening with no end in sight even despite Covid and online learning.
The college wage premium is the number one culprit for all these problems . For whatever reason, employers derive enough benefit from college grads to pay them waaaayyy more than high school grads
https://greyenlightenment.com/2022/09/22/blame-college-wage-...
The vast majority of people attend college to earn more money and be employable, as a sort of ticket the middle class. If college degrees only paid slightly more than high school instead of 2x more, demand would probably fall a lot, so would borrowing and tuition. Same for unemployment: high school grads have to 2x the unemployment rate. Maybe the onus is on employers: start finding ways to find hire more high school grads for better paying work...huge labor pool of high school grads..they cannot all be bad.