There are some graduates who earn good wages. In my company that I work at, if you are a graduate you can come and work as a Manager and earn about 40k regardless of age.
Do you work for one of those dodgy companies from Gumtree which advertises to graduates then you find out it's actually not £40K... But you can unrealistically earn 'up to' £40K doing crappy sales and you have a basic wage of £13K?

I haven't seen many graduate jobs I'd say are an amazing wage... I'm on around around £19K and I consider myself extremely lucky.
As has been mentioned, you can claim benefits when you're in low paid work. Stupidly, you can't get working tax credits until you're 25 which I don't get.

There will always be people who take the mick outta everything. I know people who are in their twenties and who have never had a job. I think it's pathetic and they undermine the image of people who are claiming benefits because of genuine sickness, family commitment, or because they genuinely can't find suitable work. I think these people are in a minority. Most people on benefits are genuine.
It also shocked me when I went to university and some students I studied alongside were 21/22 and had never even had a part time job. I can't imagine that.