It has happened several times - junior web devs can't find jobs, junior Java devs can't find jobs, etc... usually after a surge wave in the related tech area. We had large overall surge in tech around Covid time, and as usually there is some adjustment now.
The dotcom bubble had comp sci lecture halls with students overflowing into the hallway. I don’t blame people, it’s migratory. Jobs and resources are there, so, go there.
Then we blame the other group of students for not going there and picking majors where the jobs aren’t.
We need some kind of apprenticeship program honestly, or AI will solve the thing entirely and let people follow their honest desires and live reasonably in the world.