May 26th 2025.
Summer may have just started, but for many college students, the upcoming academic year is already on their minds. With the current state of the economy and job market, choosing a major that offers job security is crucial. However, even some of the most popular majors may not guarantee a stable career, as seen with the high unemployment rate for computer science graduates.
According to the Federal Reserve Bank of New York, computer science ranks seventh among undergraduate majors with the highest unemployment rate. This may come as a surprise, considering the increasing demand for STEM fields and the tech boom during the COVID-19 pandemic. In fact, Historically Black Colleges and Universities (HBCUs) account for a quarter of Black graduates with STEM degrees, as reported by the UNCF.
But the rapid growth in the tech industry also means a higher level of competition and a greater need for skilled and experienced employees. This has led to thousands of layoffs in major companies like Amazon, Google, and Meta. Financial literacy instructor Alex Beene explains that computer science has been a highly encouraged major in recent years due to the high demand in the field. However, the abundance of graduates in this field may not necessarily equate to an equal level of talent and skills in the job market.
Computer engineering, a similar major, also has a high unemployment rate of 7.5%. These alarming numbers may make students reconsider their career path and opt for majors with lower unemployment rates, such as nutrition sciences, construction, and civil engineering. However, the overall unemployment rate for recent college graduates has been steadily increasing, making the decision to attend college even more crucial for financial stability.
Despite the challenges, those pursuing computer science can still find success in the industry by being on top of their game and continuously improving their skills. Financial expert Michael Ryan warns against the "gold rush mentality" around coding and the oversaturation of the market, which can lead to lower wages and fewer job opportunities.
In the end, the choice of major should not solely be based on job security but also on one's interests and passions. With the current state of the economy, it is important for students to carefully consider their options and be prepared for the competitive job market.
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