As a 2010 Graduate...
... I found the secret was to actually take initiative. For example, before I went to uni, I took up volunteer jobs managing IT for charities in my area. I worked for free, they got free IT management. If I messed up they were far more tolerant than most business, additionally as I didn't cost them anything to begin with and usually the altenative for them was just to muddle along without help anyway.
Once I honed my skills enough, I formed my own company, and applied for contract jobs at small firms (using my charity work as a reference on my CV), essentially coming in if there is a problem, in addition to one/two times a week to keep their systems ticking over. I worked like this for 4 years, and it paid for my University (being from a low-income background, my parents could not afford to send me to uni).
Before I graduated, the business shut down (I had disagreements with my business partner), so when I graduated, I went looking for a full time salaried job, which I had no trouble finding.
Essentially, I graduated while having 5 years experience in the industry, and when I applied for a job, this put me above others, far more than what final mark I got at uni (it really wasn't an impressive one).
Turns out, that companies liked the fact that I did contract work, ran a company, and generally seeked out work. From their point in view it meant that I had shown the ability to manage resources, network, interact with others, and get a job done well enough to have repeat business, which was worth more to them than the degree itself. Since then, I've had no shortage of job offers, and enough work to keep me busy for a very long time.
As such that is what I recommend to people nowadays. Don't sit around waiting for work to arrive to you, but seek out work and build experience. A lot of (under)graduates hate the idea of working for free, but if you can find a charity that you want to help, it would be a good way of getting experience. Ditto on starting a company, even as a sole trader, it will teach you about client relationships, resource/time management, planning and execution, all things a potential employer would like to see, and an excellent way of standing out of the crowd of all your graduate peers (and if you do a stellar job, and your company takes off, you won't actually have to worry about finding a job at all :-) )