As a high school teacher, here's my take on it:
1. Society tells kids all the time: Do what you want, and the money will follow. Do what you love, and you'll never work a day in your life. You can do anything you want. Money won't make you happy. And other similar lies. Then we're surprised when they get the idea that they can make a living at their favorite hobby.
2. Society has decided that no one is allowed to have opinions anymore -- that's being judgemental, and that's BAD. You know, all choices are equal, all choices are good. Again, a lie. But if every choice is good, then we can't really tell kids that majoring in Theater won't lead to a job -- or, we can tell them, but they won't believe it.
3. Finally, kids don't really believe they can get a college degree ... and not get a good job. Even when they look into potential income possibilities, they don't really believe them. I'm remembering a student of mine who was going to art school (against her parents' wishes). She read that a person with her future degree could expect to earn something like 15K - 110K. She told me that if people average that much, then a person who really works hard could do better! When I pointed out that the 110K figure was the person who worked really hard, had some luck, AND had years of experience, she laughed it off and actually told me I didn't understand how to read the chart. Wonder how she's doing now.
4. Kids are not realistic about their own abilities. This semester I'm teaching two sections of a low-level core academic class /high school seniors. These kids fall into two groups: Those who are smart-but-lazy and those who are weak academically. Yet 10% of them intend to become doctors. Why? Because doctors make lots of money! Duh, don't you know? They genuinely think this is a realistic possibility. As I said, I'm teaching low level classes this semester; I don't always teach this group. Still, I'd estimate that 1/4-1/3 of my students go towards degrees that are just "too much" for them. Degrees they have no chance of ever earning. So what happens is, they start out in Engineering (or whatever), and quickly they realize that they aren't going to finish this program ... so they have to jump into a new program -- and what's easy? Well, that art class elective was pretty easy. Why not major in that?