The once-promising path of coding leading to prosperity is faltering. Recent computer science graduates are experiencing unemployment rates exceeding those of biology and art history majors, according to a Federal Reserve Bank of New York study.
A New York Times article highlights the struggles, with graduates like Manasi Mishra and Zach Taylor facing numerous rejections despite promised high salaries. Mishra, a Purdue graduate, only secured one interview at Chipotle, while Taylor applied to nearly 6,000 tech jobs with minimal success.
The situation is attributed to AI's impact on eliminating junior positions and job cuts at major tech companies like Amazon, Meta, and Microsoft. Graduates feel stuck in an "AI doom loop," where AI is used for both job applications and rejections.
Mishra eventually found employment outside of software engineering through a cold application.