The expectation that coding leads to prosperity has officially crumbled.
Recent graduates in computer science are facing unemployment rates between 6.1% and 7.5%, more than double the rates for biology and art history majors, according to a new study from the Federal Reserve Bank of New York. A revealing article in the New York Times sheds light on the situation.
The individual experiences are shocking. Manasi Mishra, 21, graduated from Purdue with expectations of six-figure salaries but received only one interview, at Chipotle, which she did not get. Zach Taylor has applied to nearly 6,000 tech positions since graduating from Oregon State in 2023, securing just 13 interviews and zero offers. He was even turned down by McDonald’s due to “lack of experience.”
ICYMI: Helicopter Crash: Victims to be Honoured with State Funeral on August 15
The suspected causes? AI programming tools that are eliminating entry-level positions, while major companies like Amazon, Meta, and Microsoft are cutting jobs. Graduates feel trapped in an “AI doom loop,” using AI to apply en masse while companies employ AI to auto-reject applicants, sometimes within minutes.
Fortunately, Mishra eventually secured a job after a cold application, aided by insightful TikTok posts about the struggling job market.
SOUCRCE: TECH CRUNCH
