Whether the British graduate is in trouble is really a question that cannot be answered by any generalisation.
Essentially, the graduate themselves is the only person that can suffiently analyse whether the path of higher education that they took is one that will steer them in the direction that they hoped.
Some students can study a specialist degree with the hope of pursuing that specific career, and find that this was the best thing that they could have done. Others may choose a degree because it seems easy, and struggle to find work when they graduate. The so-called 'Mickey Mouse' degrees may not be a good way into a big investment bank, but the skills learned could be more useful in a specific career than any of the 'traditional' degrees.
Some may find that their first degree alone gets them to their ideal job. Others may pursue a post-graduate qualification, because they do not think that their earlier achievements are enough.
The two graduates below, Guy Norman and Andrew Rayner, both had what is deemed by many to be lacking in the pool of British graduates: good quality degrees from well-respected universities. Yet they both found that they had to take different paths in order to get the jobs that they wanted.
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