29 graduates for every job

I posted the other day criticising the government for setting a target for 50% of school leavers to head on to university. Not only does it dumb down the standards and achievements of the universities, but it simply isn't wanted by business. We are creating a generation of graduates qualified to do absolutely nothing. The Times today reports that there are twenty nine graduates for every degree-level job in the market. Proctor & Gamble claim they have 100 graduate applicants per job. Why does the government think that sending everyone to university is the answer to anything?