I don't see any economic forces that would trigger a burst. In fact, I see most entry-level jobs demanding more education now than ever before.
A college degree, if required, has always been a -soft- requirement for most professional jobs. It is sometimes used as a first-pass filter, but it's unlikely that the reviewer will make it down to your "Education" section if the "Skills" and "Experience" sections are sufficiently impressive.
People aren't getting jobs because they didn't get enough education, not because they got too much.
No, people aren't getting professional jobs because they don't have any experience or novel qualifications that set them apart from their competition.
The majority of recent graduates just spent 4 years in college instead of gaining relevant experience, so, yes. The economy is tough, they don't stack up to the competition, and adding more schooling wouldn't improve matters.
Their competition probably spent the last 4 years working.
People aren't getting jobs because they didn't get enough education, not because they got too much.