As discussed in the Grandes Ecoles thread, these Ecoles only train about 3% of a generation, so that's hardly the category that monopolises all the protected jobs. Most of them work in the private sector; they do get undefined duration full time contracts, but they are not protected by law from layoffs more than other wage earners.

Actually, those with the lowest unemployment rate, and the highest employment rate, are those with a "Bac+2", i.e. a short university degree(usually, technical/commercial) - they are doing even better than those with post-graduate diplomas.

Le monde had very detailed graphs about unemployment numbers linked to diplomas, but I cannot find them now.

I have found this, but not the post on ET where I translated it...

In the long run, we're all dead. John Maynard Keynes