I generally agree with you, but such smart and resourceful companies could do something about it. They are not powerless.
Companies used to train internally - watch an older TV show (or even something like Better Call Saul) and see how many characters "worked their way up from the mail room". The death of company loyalty goes both ways but I'm sure it can be mended with some effort. Where I work one of the better programmers I knew was an immigrant from south east Asia who started in the warehouse and had an interest in programming. I don't know whether or not he had a degree, but the point was he worked hard to prove himself, and they took a chance to give him a go.
So I guess my point is, graduate statistics isn't the end of the story.
Companies used to train internally - watch an older TV show (or even something like Better Call Saul) and see how many characters "worked their way up from the mail room". The death of company loyalty goes both ways but I'm sure it can be mended with some effort. Where I work one of the better programmers I knew was an immigrant from south east Asia who started in the warehouse and had an interest in programming. I don't know whether or not he had a degree, but the point was he worked hard to prove himself, and they took a chance to give him a go.
So I guess my point is, graduate statistics isn't the end of the story.