These are important observations - qualified and the young driving taxis.
Professionals and even technically trained Singaporeans forced to drive taxis was first noticed in the late 1990s when GCT opened the doors to foreigners. The phenomenon of young Singaporeans starting to drive Taxis at the start of their working life and I think this became noticeable sometime in 2005.
The bigger issue is why did he Govt not realise that we have an issue. Clearly we are looking at underemployment. It should have been a barometer of an undesirable state.