Yes, in my circle of friends/acquaintances there's been a lot of recent college outcomes that have not been great.

• Daughter of friend, graduated from college with a degree in communication, I believe. She had gotten a great scholarship for college, but it's been almost a year since she graduated, and she's still working at the place (fast casual type restaurant) that she was working at while at college
• Another daughter of a friend. What with covid lockdowns, she switched colleges a couple times, thinking she'd escape the isolation of a particular college, but ended up experiencing the isolation of multiple different colleges. Her plan now is when she graduates in a few months, to live at home with her parents and work at a bakery, same as she's doing now in school. She was studying business, switched to polysci.
• Son of a friend, he just flunked out after 1.5 years. Computer focus.

I do know one kid who graduated 2 years ago, and actually got a job doing what he had studied for. It took him about 6 months to find the job. His brother is still struggling, alternating between some college, some work, some full-time video-gaming from his dad's basement, sleeping all day long and gaming at night.

I think the value of a college degree went down a lot, with covid. There was so much isolation, anxiety, and NOT LEARNING happening because of the lockdowns, masks, etc.