if everyone applying has good degrees with good greats,
Then it goes to interning.
If everyone interned then it goes to some other relevant expertise (so tune your resume to the job you are applying to).
If everyone interned and has relevant experience then either
a) It goes to the "most diverse candidate" in the u.s.
a.1) No clue if it's like that in canada.
b) The business sends it to a senior manager who finds a reason to reject everyone and then hire the candidate proposed by the offshore consulting firm. (you can google a secretly filmed seminar from 2007 of a company teaching corporations exactly how to manage the process from advertising in small markets near the target market to get as few candidates as possible, to how to tune the specific requirements for the job, to finally how to boot it upstairs to a senior who can figure out how to safely reject the candidate.
But.. say there was no h1b. Fundamentally, if this year's demand is for 1734 people with that degree and 5,270 graduate on top of the 27,000 already in the field (of whom 270 are looking for work actively) then about 3,300 of those college graduates are not going to find work in their field (and if it's bad enough- not in any field).
And part of the problem is that tuition is much higher than it was for my generation. It cost me 60 hours minimum wage to pay for an entire semester of classes and books. And since it was so inexpensive, my company reimbursed me without even questioning what I was taking as long as I had good grades and said it applied to my job.