Job market has deteriorated a lot. Most companies are afraid to invest because of a possible recession and AI.

Companies are only hiring people that perfectly fit their criteria. No more budget for junior devs and people that needs any kind of training.

Most companies keep roles open but don't hire anyone, because typically they have recruiters in house and need to give them something to do.

I know this based on mine and other friends that are execs in big companies. It has never been that bad for new grads.

Even before software engineering was hyped and paid well, you could expect a job once you graduate, this is no longer the case as so many people have chosen to study CS because of $. And now the big employers aren't hiring that much.