Technology

The major saw an unemployment rate of 6.1 percent, just under those top majors like physics and anthropology, which had rates of 7.8 and 9.4 percent respectively.

The numbers aren't too high although it shows the market is no longer starved for grads.

It's important to understand that this is a standard feature of the capitalist economy where the market is used to determine how many people are needed in a certain field at a point in time. It is not unusual that there's no overarching plan for how many software engineers would be needed over the long term. The market has to go through a shortage phase, creating the effects in wages, unemployment, educational institutions and so on, in order to increase the production of software engineers. Then the market has to go through the oversupply phase creating the opposite effects on wages, unemployment and educational institutions in order to decrease the production of software engineers. The people who are affected by these swings are a necessary part of the ability for the market to compute the next state of this part of the economy. This is how it works. It uses real people and resources to do it. The less planning we do, the more people and resources have to go through the meat grinder in order to decide where the economy goes next. We don't have to do it this way but that's how it's been decided for a while now.

I was doing my CS degree immediately after the 2008 meltdown. At the time there was a massive oversupply of finance people who graduated and couldn't find work. This continued for years. I was always shocked at the time why the university or the government does not project these things and adjust the available program sizes so that kids and their parents don't end up spending boatloads of money and lives in degrees under false promises of prosperity. I didn't have an answer then and people around me couldn't explain it either but many were asking the same question. I wish someone understood it the way I do now.