I think it is both a partial contributor but also overstated for the reason you mentioned. The main culprits IMO are over hiring during the zero interest rate period as well as the never ending increases in the supply of CS graduates.
I believe it's not only the supply of CS graduates, it's their training as well. CS education seems to have changed little over the past 50 years. While the skills needed today are drastically different than those needed 10 years ago.
I have little doubt that if I had an opportunity to use Claude to do my CS homework, I would have used it. It seems that the curriculum should assume that college kids are going to use the latest agents and dramatically increase how hard the homework is.
I believe it's not only the supply of CS graduates, it's their training as well. CS education seems to have changed little over the past 50 years. While the skills needed today are drastically different than those needed 10 years ago.
I have little doubt that if I had an opportunity to use Claude to do my CS homework, I would have used it. It seems that the curriculum should assume that college kids are going to use the latest agents and dramatically increase how hard the homework is.