Latest news with #BryanDriscoll
Yahoo
2 days ago
- Business
- Yahoo
"Learn to Code" Backfires Spectacularly as Comp-Sci Majors Suddenly Have Sky-High Unemployment
It looks like the "learn to code" push is backfiring spectacularly for those who bought in. As Newsweek reports, recent college graduates who majored in computer science are facing high unemployment rates alongside the increasing probability of being laid off or replaced by artificial intelligence if and when they do get hired. 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. Comparatively, the New York Fed found, per 2023 Census data and employment statistics, that recent grads overall have only a 5.8 percent unemployment rate. 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. (Those numbers, notably, are worse even than the outcomes for journalism grads. Despite being accurately advised that their chosen field is dying, recent grads who majored in journalism are only experiencing unemployment at a rate of 4.4 percent, per the NYFR's analysis.) Bryan Driscoll, an HR and business consultant, told the magazine that the pipe dream "sold" to CS majors doesn't match up to the reality of the current job market that still "rewards pedigree over potential." "We've overproduced degrees without addressing how exploitative and gatekept the tech hiring pipeline has become," Driscoll said. "Entry-level roles are vanishing, unpaid internships are still rampant, and companies are offshoring or automating the very jobs these grads trained for." By automating, of course, the consultant means being replaced with AI as part of the second apparent phase of the tech industry's latest crash following major layoffs in recent years. Michael Ryan, another of Newsweek's experts, suggested that recent CS grads are, somehow, doing a crappier job than their AI competition. "Every kid with a laptop thinks they're the next Zuckerberg," the finance guru behind told the magazine, "but most can't debug their way out of a paper bag." "We created a gold rush mentality around coding right as the gold ran out," Ryan continued, referencing the "learn to code" craze of the late 2010s and early 2020s. "Companies are cutting engineering budgets by 40 percent while CS enrollment hits record highs. It's basic economics. Flood the market, crater the wages." Where do they go from here? Aside from going back to school for something more lucrative, they could take the suggestion from one laid-off tech veteran, who last year told SFGATE that she had started selling her blood plasma to make ends meet. More on post-grad struggles: Berkeley Coding Professor Says Even Grads With 4.0 GPA Can't Find Jobs
Newsweek
3 days ago
- Business
- Newsweek
Map Shows Best Cities for Gen Z Graduates
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Gen Z is graduating into an uncertain economic environment. With high tariffs and a possible recession on the horizon, the choice they make in terms of where they live could significantly impact their financial situation. A new report by BizInsure identified the 25 best cities for Gen Z college graduates, based on factors related to tariffs, career growth, and lifestyle. Austin, Texas, took the top spot with San Francisco and Seattle not far behind. Why It Matters Gen Z, born between 1997 and 2012, is entering a turbulent economic outlook as they take their first jobs. According to a Glassdoor report, just 43 percent of Gen Z is optimistic about their employer's business outlook over the next six months. Tariffs, rising prices, and tighter hiring have created concerns across the country. What To Know Austin, Texas, was the top spot for Gen Z graduates to live in 2025, according to BizInsure. Just 2.8 percent of Austin's exports are under retaliatory sanctions, and the city also boasts high job listings (third in the country). Behind Austin, these cities made up the top 10: San Francisco, Seattle, Atlanta, Raleigh, Denver, Dallas, San Jose, Tampa, and Charlotte. The Southern cities ranked high, with Dallas, Houston, and Atlanta scoring 7th, 13th, and 4th, respectively, in the BizInsure report. "Some of these cities attract Gen Z because they're seeking places where they won't be swallowed whole by predatory landlords while trying to pay back crushing and debilitating student debt," Bryan Driscoll, an HR consultant who specializes in generational differences, told Newsweek. "They want affordable housing, genuine work-life balance, and companies that won't ghost them after five interviews." San Francisco, which took the second spot, typically offered high salaries, even for entry-level positions. It also ranked seventh in entertainment offerings, despite scoring 0 out of 10 for rent and overall costs. "Gen Z needs to take full advantage of the tech-driven economic engine that's driving these urban hubs," Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek. Meanwhile, the bottom five cities were all in California, with Fresno at number 98 and Bakersfield at number 99, both located in the San Joaquin Valley. Residents flock to the Austin Food & Wine Festival at Auditorium Shores on November 2, 2024. Residents flock to the Austin Food & Wine Festival at Auditorium Shores on November 2, People Are Saying Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It may be surprising to some to see cities like Austin and San Francisco topping the list, as recent headlines have focused on the slowing growth of these cities. However, both, along with locations like Seattle and San Jose, offer tech-related positions that are free from the grasps of most of the recently announced tariffs and could be easier to obtain and maintain a new position based on that." Bryan Driscoll, an HR consultant who specializes in generational differences, told Newsweek: "The report is fascinating but also a brutal reminder of what Gen Z and many other generations are up against. Austin topping the list makes sense. It has a relatively affordable tech economy and a community that embraces differences. "But let's not pretend any of these cities are utopias. Most recent grads are still choosing between paying rent or saving anything." Kevin Thompson, the CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek: "None of these cities were surprising. They all share one thing: economic growth and strong job prospects, especially in tech. "Professionally, these cities offer a chance to connect with like-minded, eclectic individuals and be part of a vibrant, fast-paced environment. But long term, many in Gen Z may find themselves wanting to slow down, moving to the suburbs or smaller communities as priorities shift." What Happens Next Cost-of-living factors could still make some cities more financially burdensome for Gen Zers, depending on their income. "Gen Z will have to factor in the cost of living for some of these cities, which certainly can be a dealbreaker unless their career choice pays enough to cover rising expenses," Beene said. "For this reason, more affordable cities in the Southeastern United States like Atlanta and Nashville could offer the best balance of career choices and better costs."
Newsweek
4 days ago
- Business
- Newsweek
Nearly 25% of Gen Z and Millennials Plan to Quit Their Jobs This Year
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Nearly a quarter of Gen Z and millennial employees plan to quit their jobs within the next 12 months to pursue entrepreneurship, according to a new survey. The survey from found young employees are seeking more autonomy and meaning in their work, spurring a significant generational shift in workforce priorities. Why It Matters This generational shift toward entrepreneurship has the potential to reshape the United States' labor market, upending the traditional 9-to-5 model and influencing everything from skills development to employer-employee dynamics. As Gen Z was poised to outnumber baby boomers in the workforce for the first time in 2024, this trend could accelerate changes in workplace culture and the rise of the creator economy. The implications of this trend are being closely watched by employers, educators, and policymakers. What To Know reported that 79 percent of employed Americans showed interest in leaving their jobs to start their own businesses, with Gen Z and millennials driving the momentum. Data from their April 2025 survey indicated that 13 percent of Gen Z and 11 percent of millennials planned to quit their jobs within the next year, rates higher than those among baby boomers and Gen X. More than half of Gen Z respondents cited the pursuit of higher income as a primary motivator for leaving corporate work, compared to 49 percent of millennials and 45 percent of Gen X respondents. In addition, 46 percent of Gen Z reported seeking more purpose or autonomy, surpassing both Gen X (43 percent) and millennials (35 percent). Stock image of people working in an office. Stock image of people working in an office. Simon Turner/Construction Photography/Avalon/Getty Images "This kind of leap, this kind of risk, is easier to take when you're young, child-free, and have some cushion, whether that's savings, a partner's income, or just fewer bills," HR consultant Bryan Driscoll told Newsweek. "That's not an option for everyone. So when we see this trend, it's not just about ambition: it's also about who can afford to opt out of a broken system and who gets trapped in it." Data from Upwork's Freelance Forward Report showed that 70 percent of Gen Z workers worldwide were already freelancing or planned to do so, suggesting broad alignment with the entrepreneurial mindset. Another motivator was a lack of support in their careers, with just 21 percent of employed Americans saying they felt fully supported by their employers. Gen Z was the most likely to say that better mentorship or career development could encourage them to stay, with one in four indicating that such support would make them reconsider quitting. Concerns about financial instability (71 percent), fear of failure (53 percent), and the need for health insurance (41 percent) were the top reasons many hesitated to fully commit to entrepreneurship. What People Are Saying Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek: "Especially post-pandemic, employees are looking for more in their work lives—more money, more meaning, more flexibility—all of which may be found in running their own business. Of course, what they may not realize is that it takes years of grinding to accomplish all three of those 'mores.' As the saying goes, 'business owners toil for decades to become an overnight success.'" Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "We've seen side hustles and part-time work that produces more income become increasingly popular with Millennials and Gen Z, and for good reason. These jobs can produce additional income to assist with rising expenses. For some, these side hustles become businesses of their own and have grown to be aspirational for many in both generations. "It's no surprise many are now attempting to make the jump from their current occupation to a self-sustaining business they can call their own." HR consultant Bryan Driscoll told Newsweek: "Gen Z and Millennials aren't running toward entrepreneurship because they all want to be the next Zuck, though I'm sure some think they will be. They're running away from toxic jobs and bosses, low pay, and employers who will discard them as soon as enough labor has been extracted. When work doesn't offer dignity, flexibility, or a livable wage, people find their own way. And increasingly, we're seeing that means building their own job." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "First, they watched their parents grind through long careers with little freedom and, in some cases, not much to show for it. Secondly, they have time on their side. They can afford to take a shot at building something they actually care about. "Especially for Gen Z, it's not just about building another business. It's about building something meaningful. They want to make an impact. Profit matters, but purpose matters more." What Happens Next The movement of Gen Z and millennials into entrepreneurship is expected to intensify over the coming year, with further implications for the United States workforce composition and employer retention strategies. Ongoing labor market trends and generational dynamics will continue to shape how companies attract, develop, and retain talent as the entrepreneurial shift intensifies. "If the traditional employer-employee model keeps shifting, companies will have to pay more and offer more," Thompson said. "Gen Z and even Gen Alpha aren't afraid of work. They're just not willing to work for something that doesn't align with their values. They want purpose. They want flexibility, and they're not afraid to leave if they don't get it."
Newsweek
5 days ago
- Business
- Newsweek
Gen Z Salary Expectations for First Job Surge From 2 Years Ago
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Gen Z's salary expectations are skyrocketing as economic pressures mount. While male college graduates expected to earn $71,900 yearly in 2023, that number surged to $101,500 in 2025, according to ZipRecruiter. Why It Matters Gen Z-ers, those born between 1997 and 2012, may be entering a job market that doesn't meet their expectations. In 2025, recent graduates had an average salary of $68,400, which was more than $30,000 less than the expectations of rising graduates entering the workforce. What To Know In 2025, rising graduates expected a $101,500 salary on average, according to ZipRecruiter. That was a stark difference from what they actually brought in on average, a salary of $68,400. Salary expectations were also substantially higher than they were just two years ago, when ZipRecruiter reported that graduating women expected to earn $69,200, while men expected $71,900. That represents a nearly $23,000 increase when accounting for inflation. However, some workplace analysts believe it symbolizes that the younger generation is just becoming more aware of their own value. "Real wages have been falling for years, all while companies post record profits and reward execs with obscene bonuses and golden parachutes," HR consultant Bryan Driscoll told Newsweek. "Gen Z sees the disconnect and is willing to stand up to try to bridge the gap. They, like many other generations, realize their labor has value, and they're not afraid to walk if they're undervalued." Stock image of college graduates tossing their caps into the air. Stock image of college graduates tossing their caps into the air. Getty Images What People Are Saying Kevin Thompson, the CEO of 9i Capital and the host of the 9innings podcast, told Newsweek: "Cost of living is up, and Gen Z isn't just feeling it, they're demanding more because of it. It's about rent, groceries, and the fact that homeownership feels like a fantasy for many. As inflation pushes prices higher, salary expectations naturally follow." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "While some in prior generations will roll their eyes at Gen Z's salary expectations, these monetary desires, while mostly unrealistic, reflect the inflationary pressures Americans are facing and the realization the lifestyle they want to achieve requires a higher level of financial success. "Typically, younger members of the workforce want to spend more of their discretionary income on entertainment and travel, both industries that have seen a huge leap in pricing since the pandemic. It's easy to see when you factor in those prices, paired with the elevated cost of living, why many are calling for higher salaries right out of the gate." HR consultant Bryan Driscoll told Newsweek: "Gen Z isn't pulling the $100K number out of thin air. They're responding to the reality of skyrocketing rent, absurd student debt, and jobs that demand more while attempting to pay less. Honestly this is just about basic math, and I think they're under-calculating." What Happens Next Gen Z is expected to make up 58 percent of the global workforce by 2030, and their salary expectations could cause disarray between companies and workers. "Inflation doesn't just squeeze consumers; it squeezes employers too," Thompson said. "Why? Because to retain top talent, employers have to pay up. Gen Z knows their value and if one employer won't meet the mark, someone else will."
News18
6 days ago
- Business
- News18
Once A Top Career Pick, Computer Science Grads Now Face High Unemployment In The US
Last Updated: Computer science, once a secure career path, now ranks seventh in unemployment rates among college majors, with 6.1% jobless in the United States of America. Computer science was once seen as a golden ticket to a secure and high-paying job. For years, it attracted students in large numbers, drawn by the booming tech industry and promises of strong job prospects. But recent data shows a different reality—one where many computer science graduates are struggling to find employment in the United States. According to a Newsweek report based on data from the Federal Reserve Bank of New York, computer science now ranks seventh among college majors with the highest unemployment rates. The report reveals that 6.1% of computer science graduates are currently unemployed. That's higher than what many would expect from a field traditionally linked with strong job security. Related fields are also seeing similar issues, with computer engineering showing an even higher unemployment rate of 7.5%. In contrast, some lesser-discussed majors are performing much better in the job market. Fields like nutrition sciences, construction services, and civil engineering have some of the lowest unemployment rates—ranging between just 1% and 0.4%. The situation is part of a larger trend affecting young job seekers. The number of Gen Z households receiving unemployment benefits has gone up by 32% compared to the previous year, as of February. HR consultant Bryan Driscoll told Newsweek that one of the main problems is unrealistic expectations. Many students believe that simply earning a degree in computer science guarantees a job, but the reality is far more competitive. Driscoll explained that factors like a candidate's background or the reputation of their university can often outweigh actual skill sets in today's job market. This growing gap between expectations and reality is prompting educators and students alike to rethink their approach to career planning. As the job market evolves, it's becoming clear that having the right degree is no longer enough—understanding real-world demands is just as important. Watch CNN-News18 here. Stay updated with the latest education! Get real-time updates on board exam results 2025, entrance exams such as JEE Mains, Advanced, NEET, and more. Find out top schools, colleges, courses and more. Also Download the News18 App to stay updated! First Published: May 27, 2025, 15:21 IST
