Something that was unfathomable just a few years ago: Computer Engineering and Computer Science near the top of recent graduate unemployment rates at 7.8% and 7% respectively.
Good news is that underemployment is pretty low, which suggests the bottle neck is getting that first job, for now. The reason seems to be many: at this point it is undeniable that AI is having a measurable effect, but pandemic over hire, and a much bigger pool of candidates after years of "learn to code" messaging should also be considered.
There was a recent study by the federal reserve that suggests, after controlling for industry level shock, coding occupations specifically experienced slower growth by 3%.
One chart from the study stuck with me:
It shows how an industry growth and what employment should have looked like for those specific occupations, but they died away over time relative to other types of hires in that same industry. I believe software engineering will suffer the same fate. Increased output and productivity doesn't necessarily mean job growth.
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