I think it depends what they’re hoping to get out of it.

The academic market in the US is very bad and in the EU only marginally better. China seems to prefer domestic talent now.

Outside of academia there are only a few niche industries still hiring. Mag7 is drying up. The semi-private research institutes want seniors with grants or customers in pocket, not fresh phds with no connections.

Probably only getting worse in the near term.

There are a few specific applications that are still good. Medical imaging seems okay for now. Advanced signal processing is still a viable route. Consumer robotics, possibly.

Learn a trade that involves using your hands.