Despite consistently ranking as one of the most sought-after majors for college students and recent graduates, computer science has emerged as one of the fields with the highest unemployment rates across all areas of study.
Computer science ranked seventh among undergraduate majors with the highest unemployment, at 6.1 percent, according to the Federal Reserve Bank of New York.
“Every kid with a laptop thinks they’re the next Zuckerberg, but most can’t debug their way out of a paper bag,” one expert told.
In recent years, the demand for computer science majors surged due to the tech boom fueled by the COVID-19 pandemic. However, as major companies like Amazon and Google have laid off thousands of employees to boost profits, the field has lost some of its appeal in the job market.
Despite computer science being ranked number one by the Princeton Review for college majors, the tech industry may not live up to graduates’ expectations. When examining undergraduate majors with the highest unemployment rates, computer science came in at number seven, reflecting a disconnect between popularity and job availability.
The major recorded an unemployment rate of 6.1 percent, just below top-ranked fields like physics and anthropology, which had rates of 7.8 and 9.4 percent, respectively. Computer engineering, often overlapping with computer science at many institutions, had a 7.5 percent unemployment rate, raising questions about the job market graduates are entering.
In contrast, majors like nutrition sciences, construction services, and civil engineering reported some of the lowest unemployment rates, ranging from 1 percent down to 0.4 percent. This data comes from The New York Fed’s report, which analyzed 2023 Census data on unemployment rates among recent college graduates.
Overall unemployment among recent graduates is on the rise, with the number of Gen Z households receiving unemployment benefits climbing 32 percent year-over-year in February. Meanwhile, the unemployment rate for recent college graduates rose to 5.8 percent in March, up from 4.6 percent the previous year, according to the Federal Reserve Bank of New York.
Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek: “Seeing such a high unemployment rate for majors like computer science may stun many Americans. After all, it’s been one of the most encouraged majors in recent years due to the unprecedented need in the field by many businesses.”
“However, an abundance of those who major in a field doesn’t necessarily create more talent, and as many companies have developed more complex needs, they often want employees more skilled with a proven track record of success. As a result, some new graduates may find it more difficult than expected to obtain a job, especially in our current environment where some employers are scaling back.”
HR consultant Bryan Driscoll told Newsweek: “Computer science majors have long been sold a dream that doesn’t match reality. Pick the ‘right’ major, work hard, and you’ll land a stable, high-paying job. But just like many majors and related jobs, the reality hits hard – too many grads, not enough jobs, crippling student debt, and a market that rewards pedigree over potential.”
Michael Ryan, a finance expert and founder of MichaelRyanMoney.com, told Newsweek: “Every kid with a laptop thinks they’re the next Zuckerberg, but most can’t debug their way out of a paper bag… 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.”
For many computer science roles, tens of thousands of graduates compete for jobs that now demand years of experience, an impressive GitHub portfolio, and the willingness to work for low pay, Driscoll said.
“The problem is the system. 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.”
