Companies are going to have to lower their expectations with experience. The workforce is getting younger and transitional.
I'm sure there's plenty of young educated people capable of filling a lot of these jobs with a good month of training, despite their lack of 5-7 years experience.
I blame a lot of our weak labor force participation problems on employers and, more specifically, accounting driven business school mentalities. Efforts to streamline have put unreasonable expectations on HR to find people who don't need to be trained and work for below market value.
I think there's a lot of truth to that.