Simply put, we are sending far too many people to university at the moment, which means the qualifications required for jobs has increased accordingly.
The example I always use of this is nursing. Until the 00s, it was not seen as a degree level job - it requires heavy amounts of emotional intelligence, rather than a certificate, and was something learned on the job with all sorts of additional qualifications / specialisms on top, giving a fantastic pathway for (largely) working class women, who have always been the least visible / most victimised part of society.
In the late 00s, a decision was made that nurses required degrees - the same (largely) working class women still end up doing the exact same job for the exact same money as before, but now have to spend 3 years getting themselves £40k in debt before they are allowed to work.
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