Well, I've been out of work for now over a year, and it's the third time in 10 years. People will say that advances in tooling create more work, but ultimately more work is created when there's more money flowing around, and when that money is invested in tooling to eek out productivity gains, which will continue, but will it outpace how much we're padding out the bottom of the funnel? Will so much more money start flowing around for a good reason that it matches how many people can do the work?
It's also worth considering that if you finished school prior to 2020 and started trying to tackle the brutal fight upstream that software development already was, why the hell would it be worth it? For... the passion? For... the interest in technical stuff? Quite frankly, in a tech career, you need to get quite lucky with timing, skill, perception of your own abilities and how they relate to what you're paid to do, and if you have the ability to be passably productive at it, it's at least worth considering other paths. It may end up comfy, or it may end up extremely volatile, where you're employed for a bit and then laid off, and then employed, and laid off, and in-between you end up wondering what you've done for anyone, because the product of your labor is usually at-best ephemeral, or at-worst destructive to both the general population and your mind and body; waking up and going straight over to your computer to crank out digital widgets for 8 hours might seem lovely, but if it's not, it's isolating and sad.
Also worth considering the tax changes in the U.S that have uniquely made it more difficult to amortize the cost of software development, but I don't claim to understand all that yet as a non-US person.