My advice to an undergrad is: Go to grad school. Now is the perfect time to apply, and generally CS/EE students get paid to attend by having their tuition paid for by their advisor and getting a stipend for research/TA jobs. There is also government money to be had. Ride out the storm in Grad school, gain some skills, and expand your network. When you finish the economy should be good again.
If you're a grad student, maybe try to get a post-doc?
But assuming more academia is not for you, look for jobs outside of tech companies. Like apply for a job building the McDonalds app or writing software for John Deere tractors. The job probably won't be great, but you might get lucky and find a company that has realized that tech is the future and are investing in it (I recently met some guys from Ford who were doing some crazy cool stuff).
If you want to try to find which non-tech companies are embracing and investing in tech, look for old companies that have been featured in keynotes at re:invent or Google Cloud Next.
And of course use your network. Find friends who did get jobs and ask them if there are any more. While there are general hiring freezes, some companies will open up a few jobs to counteract attrition, and some will exempt new college grads from their freezes (because you guys are cheap and eager to learn their way of doing things without preconceived notions).
Good luck, and try not to get too down if you get ignored or rejected a lot -- it will happen to the best of people!