Not that like I think one should put too much stock in head lines. But "Wiping Out"
seems to translate to a 6.1% unemployment rate and 16.5% underemployment rate?
https://www.finalroundai.com/blog/computer-science-graduates...
seems to translate to a 6.1% unemployment rate and 16.5% underemployment rate?
https://www.finalroundai.com/blog/computer-science-graduates...
Blame the article for using suboptimal numbers, but the "wiping out" part is definitely justified when talking about jobs for graduates
If you click through to new york fed's website, the unemployment figures are 4.8% for "recent college graduates (aged 22-27)", 2.7% for all college graduates, and 4.0% for all workers. That's elevated, but hardly "wiping out".
https://www.newyorkfed.org/research/college-labor-market#--:...
Computer Science is tied for fourth lowest underemployment and is the 7th highest unemployment... and is also the highest early career median wage.
That needs to be compared to the underemployment chart https://www.newyorkfed.org/research/college-labor-market#--:... and the unemployment chart https://www.newyorkfed.org/research/college-labor-market#--:... (and make sure to compare that with 2009).
Computer science is not getting wiped out by AI. Entry level jobs exist, though people may need to reset their expectations (note that median job being $80k) from getting a $150k job out of college - that was always the exception rather than the average.
There are average jobs out there that people with a "want to be on the coast and $150k" or "must be remote so I don't relocate" are thumbing their nose at.
https://www.signalfire.com/blog/signalfire-state-of-talent-r...
Starting at 2019 and saying "pre-pandemic levels" might be a bit disingenuous since that was a leap to a boom... and the bust we're seeing now.
https://www.cbre.com/insights/articles/tech-boom-interrupted
At $113B, 2019 was the third-highest year on record for VC deal volume.
2019 had the second-highest volume of “mega rounds” ($100M deals or greater)–mega rounds represented 44% of total annual deal volume.
Revenue grew by an average of 12.2% in 2019 and the total revenues of the tech giants was greater than the GDP of four of the G20 nations.
And while 2019 might have been third-highest year for investment in 2020, according to this it's been surpassed in 2021, 2022, and 2024
https://kpmg.com/xx/en/media/press-releases/2025/01/2024-glo...
So why have graduate hires continued to decline since 2023? It seems funds have been diverted from junior hiring into AI investments.
However, as others have remarked, this might be a case of "AI is not taking your jobs, AI investment is taking your jobs"
Junior hiring might pick up again once the spending spree is over