“Following the job market, college students have been shifting towards science and technology, away from the liberal arts.” …
Not surprising. The admission rate at UMich CoE may slash by half within 4 years. It was 40% in 2012 and it is likely around 20% this year.
Not a surprise that the high cost of college and the uncertainty of many families’ household finances is increasing the incentive for students to put more weight on pre-professional and financial ROI considerations in choosing college majors.
But they need to beware that job markets four or five years from now (i.e. at college graduation for current college frosh or high school seniors) may be significantly different from what they are now, particularly in industries that can have big swings (computer industry, oil industry, etc.).
They also need to beware that not all STEM majors have good major-specific job prospects at the bachelor’s degree level.
For sure oil industry job market would be bad this year.