In the 60s most people got a job just with a HS degree. Even many people without a HS degree. The only people rejected and labeled as "unemployable" were drug addicts and alcoholics.
Today you can do everything right and still not get a job and be homeless. A college degree, internships, projects, qualifications, work experience. And its still not enough. Such a job market where people want to work but dont get work, even with work experience and degrees, is unhealthy and unnatural.