US EditionGoodbye, $165,000 tech jobs. Student coders seek work at Chipotle.
UNITED STATES, AUG 10 – AI programming tools and layoffs at major tech firms have increased unemployment to 6.1% among recent U.S. computer science graduates, forcing many to seek alternative jobs outside tech.
- Many recent computer science graduates face a tough job market dominated by AI advances and layoffs, with some turning to non-tech jobs like at Chipotle.
- This situation follows a post-pandemic hiring boom that peaked in early 2022 but has since declined due to economic uncertainty, normalization of talent retention, and AI reducing entry-level roles.
- High unemployment rates persist among computer science and engineering majors ages 22 to 27, reaching 6.1% and 7.5% respectively, more than double other fields like biology and art history.
- Microsoft committed $4 billion in resources to enhance AI education and skill development for learners and employees as the tech industry shifts focus, while leaders encourage adjustments to AI-driven workforce changes despite a decline in job vacancies.
- This trend signals a new lower employment equilibrium in tech that may persist, with economists noting slower promotions and ongoing structural changes amid the AI-driven labor market shifts.
11 Articles
11 Articles
Computer Science Graduates Struggle to Find Jobs During Tech Layoffs and AI Boom
Despite years of promises from tech leaders about lucrative coding careers, recent computer science graduates are facing a challenging job market due to the rise of AI programming tools and widespread layoffs in the tech industry. Some are taking jobs at fast food restaurants while they plan their next move.
Sun-Sentinel
Goodbye, $165,000 tech jobs. Student coders seek work at Chipotle.
Among college graduates ages 22 to 27, computer science and computer engineering majors are facing some of the highest unemployment rates, 6.1% and 7.5% respectively, according to a report from the Federal Reserve Bank of New York.
Canada's job market is sluggish, especially in the technology sector. AI automation has led to a reduction in entry-level jobs, prompting many university graduates to turn to graduate studies to improve their competitiveness or delay entering the workplace.
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