macmet: Glad to hear that you and your friends at Mac are doing well. Nice to hear a positive anecdote once in a while. Unfortunately, for every recent grad positive anecdote I hear at least five to ten negative ones. What I'm hearing about for recent grads is mostly a situation of underemployment rather than unemployment though: grads taking jobs outside of engineering in order to pay off their student loans, not because they wanted out of the profession.
Unfortunately, the reports I'm getting indicate that placement rates from U of T, Queens and even Waterloo, where students have the benefit of 2 years of co-op work experience to help them in their job search- these aren't nearly as bright as you describe. And the Council of Ontario Universities' survey, which looks at job status 6 months and 2 years after graduation, puts engineering grads at the same basic rate of unemployment as any other average university graduate (i.e. including job-magnet programs like journalism and fine arts). All medical graduates of any sort, even vets, have unemployment rates indistinguishable from zero. These stats for engineering are hardly indicative of a profession whose grads are in short supply and have an abundance of great opportunities to choose from.
The situation for recent immigrants in Canada is worse still. The Council for Access to the Profession of Engineering (
interviewed 1000 recent immigrant engineers in Ontario and found that only 20% of them were working as engineers, and only 50% of them were working at any job.
My stats are for Canada only, they're not general "doom and gloom", but they're not opinion or anecdotes either: they're supply numbers for Canada versus time, verified independently and accurate within 10%.
We're massively oversupplied here, mostly because of changes in immigration policy which totally decoupled immigration supply of skills from their marketplace demand, whereas 10 years ago there were quotas by discipline. Whereas we took in 1300 engineers in 1991, we were taking in over 15,000 engineers in 2001 and levels have stabilized near there since. In comparison, we graduate only ~ 9,000 Bachelors' level engineers yearly in all of Canada. 75% of all skilled workers seeking to work in regulated professions in Canada are now engineers. If you want to see the stats, have a look at
No profession can survive a three-fold increase in yearly supply in a decade without some serious suffering.