As a recruiter and a business owner I would say that your post has brought up a few points:
1. The degree you do does not mean that you have to do anything related to it afterwards. Most employers now are looking for more than that. That grad who is being paid £26k is lucky - good for him. It sucks when you're working somewhere and someone with less experience is making more but just use it as leverage when you ask for a payrise!
2. A grad with no work experience, who has just holidayed every summer is less interesting to an employer than someone that has done some work / any work.
3. You have to really want to try and get a job, it's hard work finding one and convincing someone to hire you but this point is relevant to people at any point in their career. You have to show enthusiasm, tenacity and motivation.
4. The market is getting better for students but the standards are just as demanding. You can't expect massive salaries, you can't expect to get your dream job straight off the bat - finding your niche or your passion takes time, experience and dead ends! Just because your first job out of uni sucks or pays badly doesn't mean you're stuck in it forever! My first grad job out of uni in a capital city paid £12k (and we're not talking back in the 90's here!), it sucked. I left after 6 months and got a new job, a pay rise and 12 years later I run my own business.
5. Look at the industries which are growing now, digital etc - there are loads of opportunities to be had, you don't need a degree in the subject but you need to be knowledgable and interested and sometimes willing to drop your pants to get it. This is nothing new - grads have been doing it for ages.
Anyhoooo, willing to help and answer questions if you've got any!