I was recently talking to a person who had left teaching and was trying to return. He couldn't find a job even though there was a shortage of teachers. Basically he couldn't find a job here, if hs wanted to move to another state he would do fine.
Not sure why your school has 82% placement but it might be location. It is hard for lawyers to find jobs in Albany and there is a Law School here...and one heck of a lot of Lawyers too.
California is trying to hire those out of work form the midwest. They are trying to take advantage of the down situation and lots of people to choose from to elevate the education level and years of experience and lower the pay to an area that has a higher cost of living.
I myself have turned down offers for California in the last two years as it did not make sense to leave a job and leave behind a house in market that was way down to move to a place I could not afford a house half the size, and barely be able to rent. Let alone support two locations.
Of course if I was without income I might be looking to take a different option, but many of the head hunters who have called me, all get frustrated when I tell them I have a job and that I am not hungry. They now know they are not in a place of strength and that the offer will not look good.
To me loosing a house and living in an unsafe area just to work is not the plan for me.