Recent data from the New York Federal Reserve indicates that software engineering graduates have higher unemployment rates than art history majors, with rates of 7.5% and 3% respectively. While art history majors face high underemployment at 46.9%, the dip in software hiring is significant, leading industry leaders to question whether this reflects a cyclical trend or a systemic shift in IT. Experts like Ivan Gekht highlight that the demand for traditional software roles is declining in favor of specialized skills focused on autonomous systems.
"This is not a sudden development -- it's an issue that's been building up for years," said Ivan Gekht, CEO of Gehtsoft, a custom-design software development firm.
"For nearly two decades, we've seen a surge in the popularity of the IT industry, particularly in coding roles. This led to an explosion of online courses and boot camps to quickly train people for entry-level jobs..." said Ivan Gekht.
"The shift in the IT industry is toward developing autonomous systems, while "generalist or vanilla software roles are being phased out," said Nic Adams, co-founder and CEO of 0rcus.
Despite the growth of the tech sector, unemployment rates for computer engineering graduates are higher than expected, revealing a critical shift in industry demand.
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