This is correct. With the glut of lawyers out there, criminal defendants are flooded with letters and cards that say "Hire me! Hire me!" and touting how cheaply they can be hired. That's great, if they also have the experience that the client needs.
Also note that even with a "glut" of young lawyers in the market, public defender offices still have more cases than they can handle because they lack the resources to hire the attorneys they need.
The nearly five-fold explosion in the number of law graduates between 1963 and 2010. The declining percentage of law graduates who have found employment (from 85% in 2011 to 62% in 2012, according to the chart). Quick explanations of how globalization and legal outsourcers have changed the playing field, etc.