From what I've seen, CS/programming job growth is significantly worse than in other comparable fields. Though my guess is that's a retrenchment from overhiring and overpaying.
The data I've seen on under& unemployment for recent grads from the federal reserve bank puts comp sci kinda middle of the pack of other science & engineering majors.
I would expect CS doing better than EE or Physics or Chemistry or ME ...
In some science fields good luck getting a job if you don't have a Ph.D.
But otherwise, yes, these things are cyclical. But I think the trend, even with AI, is still towards more software. We've had explosive growth over the last few decades.
>> company in America is struggling to hire technicians, and the problem - (in spite of what you'll likely read in the comments,) has nothing to do with the pay, the benefits, or the working conditions.
When CEO says it has nothing to do with the pay - it is exactly the reason why there are shortages of the talent.