Just want to point out that the job market is not neccisarily 'bad'. There was a huge period of growth in the post WWII era as the university ecosystem expanded with the economy, continuing along later with the boomers' expectation that their children do as they did. Now we live in a post-boomer, globalized economy where the low hanging fruit has all been plucked.
That's not 'bad', more likely just the new normal.