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Computer Science, a popular college major, has one of the highest unemployment rates
(www.newsweek.com)
This is a most excellent place for technology news and articles.
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.
You are looking at Universities^0 all wrong. Predicting the markets are not their job or role in society.
The primary purpose of a University is research. That research output comes from three primary sources: the faculty, graduate students, and undergraduate students. Naturally undergrads don’t tend to come into the University knowing how to do proper research, so there is a teaching component involved to bring them up to the necessary standards so they can contribute to research — but ultimately, that’s what they exist for.
What a University is not is a job training centre. That’s not its purpose, nor should it be. A University education is the gold standard in our society so many corporations and individuals will either prefer or require University training in exchange for employment — but that’s not the Universities that are enforcing that requirement. That’s all on private enterprise to decide what they want. All the University ultimately cares about is research output.
Hence, if there is valuable research output to be made (and inputs in the form of grants) in the field of “Philosophy of Digital Thanatology” (yes, I’m making that up!), and they have access to faculty to lead suitable research AND they have students that want to study it, they’ll run it as a programme. It makes no difference whether or not there is any industry demand for “ Philosophy of Digital Thanatology” — if it results in grants and attracts researchers and students, a University could decide to offer it as a degree programme.
We have a LOT of degree programmes with more graduates than jobs available. Personally, I’m glad for that. If I have some great interest in a subject, why shouldn’t I be allowed to study it? Why should I be forced to take it if and only if there is industry demand for that field? If that were the case, we’d have nearly no English language or Philosophy students — and likely a lot fewer Math and Theoretical Physics students as well. But that’s not the point of a University. It never has been, and it never should be.
I’ve been an undergraduate, a graduate, and a University instructor in Computer Science. I’ve seen some argue in the past that the faculty should teach XYZ because it’s what industry needs at a given moment — but that’s not its purpose or its role. If industry needs a specific skill, it either needs to teach it itself, or rely on more practical community colleges and apprenticeship programmes which are designed around training for work.
[0] — I’m going to use the Canadian terminology here, which differentiates between “Universities” and “Colleges”, with the former being centres of research education that grant degrees and the latter referring to schools that are often primarily trade and skill focussed that offer more diploma programmes. American common parlance tends to throw all of the above into the bucket of “College” in one way or another which makes differentiating between them more complicated.
What you describe might be true for Canada, but it doesn't apply to all universities. Many universities have two primary tasks: research and education. These are two separate tasks with overlap.
I do find it understandable if publicly funded universities place restrictions on how many students they accept per program as it's their duty to give back go society.