Effectively, the coding-equals-prosperity promise has formally collapsed.
Recent pc science graduates are dealing with unemployment charges of 6.1% to 7.5% — greater than double what biology and artwork historical past majors are experiencing, based on a latest Federal Reserve Financial institution of New York study. A crushing New York Times piece highlights what’s taking place on the bottom.
The person tales are surreal. Manasi Mishra, 21, graduated from Purdue after being promised six-figure beginning salaries, solely to obtain a single interview, at Chipotle. (She didn’t get the job.) Zach Taylor has utilized to just about 6,000 tech jobs since graduating from Oregon State in 2023, touchdown simply 13 interviews and 0 provides. He was even rejected by McDonald’s for “lack of expertise.”
The alleged culprits? AI programming eliminating junior positions, whereas Amazon, Meta and Microsoft slash jobs. College students say they’re trapped in an “AI doom loop” — utilizing AI to mass-apply whereas corporations use AI to auto-reject them, typically inside minutes.
Fortunately, Mishra landed a job after one chilly software that labored out. It’s not in software program engineering.