Supply of CS Degrees has outstriped demand

In its latest labor market report, the New York Federal Reserve found that recent CS grads are dealing with a whopping 6.1 precent unemployment rate. Those who majored in computer engineering — which is similar, if not more specialized — are faring even worse, with 7.5 percent of recent graduates remaining jobless.

.I mean, best in class compensation, strong work life balance and prestige. Hundreds of thousands of students flocked to CS degrees as a no-brainer career. But the music has stopped, and there’s a lot of people without a place to sit. This is definately one of the larger market corrections I’ve seen since 2001. But, yet, I still would not tell people not to pursue engineering. Understanding technology I think is a critical part of the future.

_{Quote Citation: NOOR AL-SIBAI, ““Learn to Code” Backfires Spectacularly as Comp-Sci Majors Suddenly Have Sky-High Unemployment”, MAY 31, 6:45 AM EDT, https://futurism.com/computer-science-majors-high-unemployment-rate}