The “Learn to Code” Era Collapses as Computer Science Grads Face Rising Joblessness
Once hailed as the ultimate career safety net, a computer science degree is starting to look a lot less bulletproof.
According to new data from the New York Federal Reserve, recent computer science graduates are facing unexpectedly high unemployment rates, as tech layoffs, automation, and a saturated job market shift the landscape. The report, based on 2023 Census and employment data, reveals that recent CS majors now have a 6.1% unemployment rate—higher than the 5.8% average across all recent college grads.
Those who majored in computer engineering are faring even worse, with a 7.5% unemployment rate—third highest among all majors tracked by the NY Fed. That puts them just behind anthropology (9.4%) and physics (7.8%). Computer science ranked seventh on the unemployment list.
In a twist, even journalism grads—frequently told they’ve chosen a dying profession—are experiencing better outcomes, with a 4.4% unemployment rate.
So what went wrong?
Industry experts say the issue isn’t a lack of skill, but a mismatch between education pipelines and a fast-changing job market that’s been rocked by layoffs and automation. HR consultant Bryan Driscoll told Newsweek that many CS majors were sold on an outdated dream.
“We’ve overproduced degrees without addressing how exploitative and gatekept the tech hiring pipeline has become,” Driscoll said. “Entry-level roles are vanishing, unpaid internships are still rampant, and companies are offshoring or automating the very jobs these grads trained for.”
With AI taking on more junior-level coding and development tasks, some recent grads are finding themselves edged out before they even get started. Michael Ryan, founder of personal finance site MichaelRyanMoney.com, said the bar for entry-level tech work has quietly shifted.
“Every kid with a laptop thinks they’re the next Zuckerberg,” Ryan told Newsweek. “But most can’t debug their way out of a paper bag.”
He added: “We created a gold rush mentality around coding right as the gold ran out. Companies are cutting engineering budgets by 40 percent while CS enrollment hits record highs. It’s basic economics. Flood the market, crater the wages.”
The fallout is already visible. Some laid-off or underemployed tech workers are turning to gig work or extreme measures to stay afloat. One former tech employee told SFGATE last year she began selling plasma just to make ends meet.
What was once a straight path to high-paying, high-demand jobs has become far more uncertain. With fewer entry points, rising competition, and automation changing the rules, today’s CS grads are discovering that “learning to code” isn’t the career guarantee it once was.