Many people that attend code schools have no interest in getting a software engineering job. I think asking code schools to base their metrics on employment rates would have bad side effects.
This would cause schools to reject applicants that are interested in learning coding for alternatives reasons. These reasons range from Mom's wanting to learn so they could teach their children, wantrepreneur's wanting to build their MVP on their own, or just someone that is happy with their career path, but wants to take a break to learn coding for fun.
Do you think Mom's wanting to teach their children coding should be rejected from code schools, because they don't want to get a job and thus would hurt their numbers?