EE grads occupy an interesting identity crisis. While on one hand they want to pass off as ECE (computer-engineering) candidates with decent programming skills, they also want to identify with being an "applied math" or "Alogirthm" engineer.

Unfortunately in today's world nimbleness in learning new s/w skills is valued more than having specific expertise is "speech coding" or "image segmentation", etc. Further more, it is easier to be a generalist as a pure CS person, than being a hard-core EE person. Bottom line the "tool" has become more important than the "solution".

Inevitably, being a specialist means the labor force is fragmented, and purely from a relative comparison to the CS "supply-demand" situation, its a relatively "low-supply [specialized] - low-demand" situation.

It not that you are undervalued or underemployed as the article might suggest (btw I wouldn't read too much into the first quarter results on unemployment figures/ considerations on how many to include in labor force, etc.), but its more like being a "lightly traded stock, with not much liquidity, high big-ask spreads".