Many companies were willing to hire fresh college grads in the hopes that they could solve relatively easy problems for a few years, gain experience and become successful senior devs at some point.
However, with the advent of AI dev tools, we are seeing very clear signs that junior dev hiring rates have fallen off a cliff. Our project manager, who has no dev experience, frequently assigns easy tasks/github issues to Github Copilot. Copilot generates a PR in a few minutes that other devs can review before merging. These PRs are far superior to what an average graduate of a code boot camp could ever create. Any need we had for a junior dev has completely disappeared.