i think it's a big mistake to think education is just - or even mainly - about employment. Being educated, rather, should be seen as important for having a good life: well-educated people are much more likely to live fulfilled lives than the poorly-educated, ceteris paribus. And a well-educated society, done properly, is surely better than a society of ignoramuses.
Regarding economic necessities and reasons why even educated young people find it difficult to get employment nowadays, consider: most of us are so indoctrinated by neo-liberalism and capitalist ideology we accept that automation, AI and all the rest, benefits only wealthy owners, rather than everyone (including those who are no longer required to do jobs lost to AI and robots).
AI has developed sufficiently even graduates aren't needed for many jobs? Fine: let's still pay those whose jobs are now done by robots even if they don't work at those lost jobs. Why not? The jobs are still getting done, the wealth produced still there: why should it not go to those who used to do the jobs rather than (often already-rich) bosses or shareholders?
In a rationally-ordered world we'd share wealth more equally. The results of AI taking people's jobs could be more leisure rather than penury for resulting unemployed individuals - leisure that might be used productively, for more education to the benefit of all perhaps?
Meanwhile, in the irrationally-ordered world we live in, it's still better for individuals to be educated rather than not. (My children (and their children, and their friends) are evidence of this. Trust me.)