This is not correct. We are quite over educated here in the high skilled workforce - nowadays much more students, meister and techniker everywhere, and sure we have created a low wage sector recently as well, but this is another story and represents a much smaller share of the entire workforce.
Have you tried checking out some of these students these days? Have you missed the shortage notes about classical Meister, etc. roles given out the past decade?
Also low wage sector is a few million people (last official numbers are about 8 million people). Compare that to high skilled workers.
