Is it me or the Job Market?

I am about to graduate from my masters in Materials Engineering and I have been working alongside my studies for the past 3 years mainly in Semiconductor/Cleanroom processes scene.

Even with referals I can’t get to secure an interview. Idk what is wrong honestly. I have showed my CV to a couple people they said it looks fine. It is really demoralizing to get a generic rejection email after two days later i apply for a position.