[brudgers]

In several years, the job market may be such that everybody is struggling to find decent jobs. However, I doubt that computational biologists are likely to struggle significantly more than programmers in general in such a situation.

That doesn't mean that a particular Phd program is the right place for you right now. Maybe it isn't. Maybe there's a better fit in another program, maybe no program is the right fit, maybe it's a good fit an this is just somewhat normal graduate school anxiety.

I guess the deep question is the nature of your motivation for a Phd. There is inherently nothing wrong with pursuing a Phd as an ambitious challenge. There is inherently nothing wrong with pursuing a Phd as vocational training [but it may be a hell of a roundabout way of doing so].

Good luck.