Are companies not hiring freshers or am I not skilled enough?

I'll be graduating soon from college with a Bachelor in Engineering and I am unable to get any interview calls let alone the jobs, I've been applying to job openings and have lost count now they should be in hundreds. I've applied to openings which include experience of 1+, 2+, and 3+ yrs hoping some might count my internship experience of 1.5 yrs (1yr in one and 6 months in other) where I've worked on actual products and not on some bootcamp projects. I have only received automated emails of rejections and 0 calls.

My main skills include frontend dev with Reactjs (and other framework like Vue) and know almost all the popular libraries associated with that along with that I am also familiar with backend dev using nodejs and currently learning go programming language.

There's so much to say but I want to keep this post short. I want to know what should I focus on there's so much confusion and it's getting harder to sail the boat with all these news of layoffs and hiring freezes for which I am not sure if I am taking it as an excuse for being not skilled enough.