These are few reasons that I could think of:

Company:
1) Does not hire fresh graduates
2) Salary too low (I mean below average expected salaries)
3) Hires the one with best academic results.

Fresh Graduate:
1) Taking their time so-called holiday not realising that it takes a while to get hired.
2) Choosy (in terms of salary, their dream job, location)
3) Lazy
4) Bad academic results