At the moment on LinkedIn there are about 15k results for jobs containing the “software engineer” keyword in the UK, compared to just over 3k for the “biology” keyword.
Despite this, 56k people graduated in biological sciences but 24k people graduated in computer science.
(Graduation data is from 2019/20 so may have changed slightly, but unlikely enough to move the needle)
The vast majority of jobs on LinkedIn are fake. Even so your figures confirm my claim; 24k graduates versus 15k jobs. The supply is greater than the demand.
As a sibling comment has pointed out, there are too many software engineers in the UK.
Only because there are too many software engineers, not the fact that AI will replace those jobs. Experienced software engineers are still required for successful businesses.
Despite this, 56k people graduated in biological sciences but 24k people graduated in computer science.
(Graduation data is from 2019/20 so may have changed slightly, but unlikely enough to move the needle)
https://www.hesa.ac.uk/data-and-analysis/sb258/figure-17