U.S. computer engineering graduates report a 7.5% unemployment rate, the third highest among all majors and more than twice art history’s 3%, according to the Federal Reserve Bank of New York.
The New York Fed’s report, based on 2023 U.S. Census data, shows that while STEM degrees are commonly linked to strong job prospects, several humanities majors are currently recording better employment outcomes than their technical counterparts.
Computer science and computer engineering graduates saw unemployment rates of 6.1% and 7.5%, higher than the national average, CNBC reported. In contrast, art history graduates faced a 3% unemployment rate, while nutritional sciences majors had the lowest at just 0.4%.
Overall, the unemployment rate for recent U.S. college graduates rose to 5.8% in March, up from 4.6% a year earlier. Gen Z households receiving unemployment benefits also jumped nearly 32% year over year, according to the Times of India.
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A person works on computer. Illustration from Pexels |
While STEM fields, especially computer-related disciplines, still lead in starting salaries, median wages for computer science and engineering graduates stand at $80,000, some employers are shifting focus toward humanities graduates.
At a conference last year, Robert Goldstein, chief operating officer of BlackRock, the world’s largest asset manager, said the firm was adjusting its hiring strategy. “We have more and more conviction that we need people who majored in history, in English, and things that have nothing to do with finance or technology,” Goldstein said.
This shift is partly driven by the rise of artificial intelligence, which is increasing demand for creative thinking and soft skills in the workforce.