Jobs down 30%... Majors up 40% in 5 years
Although 'Computer Science' is a popular major at American universities, graduates are facing difficulties finding jobs as big tech companies are reducing their hiring, the Wall Street Journal (WSJ) reported on the 20th (local time).
Once considered a major with high income and guaranteed employment, the situation has changed as the number of majors increased and the industry landscape shifted. Until a few years ago, big tech companies aggressively expanded their businesses, but recently they have been conducting large-scale layoffs. WSJ also analyzed that the need for coders is decreasing due to the introduction of artificial intelligence (AI).
On the job search website Indeed, job postings for software development positions, which represent computer science, have decreased by 30% compared to before COVID-19. On the student hiring platform Handshake, the number of full-time job postings by tech companies recently dropped by 30% year-over-year.
According to the U.S. Department of Labor, the employment growth rate of software publishers, an employer group that includes software developers, has remained unchanged over the past 18 months.
Meanwhile, the number of computer science graduates is rapidly increasing. In the U.S., the number of computer and information science majors has risen by about 40% over five years, exceeding 600,000 last year. According to the U.S. Department of Education, the number of bachelor's degrees awarded surpassed 100,000 in 2021, a 140% increase compared to ten years ago.
According to the National Student Clearinghouse Research Center, computer and information science is the fourth most popular major at four-year universities. Between 2018 and 2023, the number of majors surged from approximately 444,000 to 628,000.
Ben Reset, a graduate of The Catholic University of America, told WSJ, "When people say they majored in computer science, they hear 'You will make a lot of money, you can do whatever you want,' but when you try to find a job, it’s impossible to get hired."
Stephanie Johnson, Career Development Director of the Computer Science Department at the University of North Carolina, said students apply to an average of more than 150 jobs and are still waiting for hiring offers.
WSJ reported that graduates from top-tier schools can still find jobs, but not everyone ends up at Facebook or Google.
Tim Herbert, Chief Research Officer at CompTIA, an internationally recognized IT certification organization, said, "Job seekers need to reset their expectations," adding, "Big tech companies are hiring for AI-related jobs, but many require more experience than entry-level employees."
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