We went from LEARN TO CODE to NO ONE LEARN TO CODE GET A CONSTRUCTION JOB in about a 3 year span.
I found this thought funny. A few years ago everyone was all learn to code so you don't lose your job! Now there wont be any programming jobs in 10 years. But we will need a lot of manual labor still.
Well the job market for developers is still pretty tight at the moment. I don't have the insight to say for sure why (though I have some guesses), but I know that for me and every junior developer I know it's rough out there.
They don't understand a lot. For whatever reason, higher management still thinks things are like a factory, and you just build your software like building a car.
Why? Because that's the only way they know in the world of MBAs. They can't speak any other language than "product."
Having been around for a few decades now I can tell you that the job market comes and goes. Things have been tight before, and there has been more openings than people to work them many times in the past. I can't tell you when things will turn around, but odds are they will. (this is sadly not helpful if you are one of those currently needing a job)
I've known more than one person who found a completely different career and never went back. You might take a job in Real Estate as one person I know did and discover you like it better and so all that time in school was a waste now that you know you don't want to do that. Or maybe not - you might take that job to make ends meet (as I once had to take a non-tech job) and decide you hate enough that you don't want to go back.
LLMs are going to replace some developers, the companies that do that will fold because their product doesn't work, the developers will get jobs elsewhere.
As a graduate from good university in computer science who is struggling to find a job. Go learn something that can be aided by code, but don't make code the center of your career...