It's probably worthwhile to think about scale in this context: There are only 85000 H-1B visas issued each year by the US; 20k of those are reserved for people with advanced degrees [1]. Given that there are an estimated 3.87 million software developers working in the USA [2], this seems unlikely to be the root cause of the inability of some graduates to find entry level software jobs.
1. https://www.uscis.gov/working-united-states/temporary-worker... 2. https://en.wikipedia.org/wiki/Software_engineering_demograph...