Of course, steve. That's why the country has had to import upwards of a million people from abroad to fill these non-existent vacancies in recent years, and why workers from Eastern Europe continue even today to arrive here to fill jobs.
And in any case, even if there are no jobs (which people in many areas - particularly the larger towns and cities - would dispute) that is insufficient justification to enrol young people on worthless degree courses which they seem to expect the taxpayer to continue to fund. They would be better off (personally and financially) spending their time looking for work.
Of course some people need to go to University, But to suggest that 40-50% need to is ludicrous. A far more rigorous assessment needs to be made of the benefits of university education and as I said earlier, now that the students themselves are being asked to meet more of the costs, they may be instrumental in initiating that assessment.