In its latest labor market report, the New York Federal Reserve found that recent CS grads are dealing with a whopping 6.1 precent unemployment rate. Those who majored in computer engineering — which is similar, if not more specialized — are faring even worse, with 7.5 percent of recent graduates remaining jobless.
While folks who majored in fields like anthropology and physics fared even worse, with unemployment rates of 9.4 and 7.8 percent respectively, computer engineering had the third-highest rate of unemployment on the New York Fed's rankings, while computer science had the seventh — a precipitous fall from grace for a major once considered an iron-clad ticket to high earnings and job security.