Re: The point is not to match skills: It's attitude
I've had plenty of experience on both sides of the interview process, however what is usually genuinely important can be summed up something like this:
When you're interviewing for a position, your primary concern is to ensure that the candidate's personality is a match for the company and the team. Knowledge and skills can be taught, attitude can't.
Interviewing for attitude isn't as easy as interviewing for skills but it can be done and when you're a candidate it's often your responsibility to "sell" your attitude.
The problem with (IT) graduates is that they are in a wide, and widening, industry and the technology they'll have been taught at University will often not match what an employer requires. This isn't helped when many employers are ludicrously specific on what skills they "require" and while this is reasonable to help filter out the sometimes deluge of applications, being too specific will reduce the available candidates with exact matches down to zero.
The next problem is what graduates are taught and how. Pre-graduate education is currently largely mired in the process of being taught to pass an exam which doesn't give the Universities much to work with and is a perpetual gripe for them. Many Professors will complain that the first year of University is now wasted having to teach students how to learn and often to teach the basics of the subject they managed to pass exams for. Universities have previously been under an enormous amount of criticism for not teaching using environments and packages that are in common use in industry, their reaction to this has generally been either to switch to more modern environments (which given that most employers are not cutting edge isn't a problem) or to switch to cutting edge environments that aren't industry proven.