The Atlantic recently published an article detailing the “scientist surplus” that has affected Ph.D employment. Based on National Science Foundation’s data, there has been a slowing trend in the hiring of Ph.D’s directly from graduate school in all fields. The good news is that Ph.D engineers fair better than many other fields, and the article does not discuss how the over all state of the economy has played a large role in budget cuts to universities and the downsizing of many companies, which has affected everyone including Ph.D graduates.
However, near the end of the article, the author states that most Ph.Ds eventually do find work, and the unemployment rate of college graduates is under 4% (as opposed to the national average of 7.7%).
Check out the article here.