Your topic and your question is based on two different areas. According to ACM and MQA programme Standards, Computer Science and IT are two totally different fields within the Computing sector. I would agree with the general statement that the IT industry is over-saturated. However, the area of computer science in South East Asia is very much in demand for talents. There is a general shortage of talented programmers as well. Data Scientists and Security professionals are also very very much in short supply. The emphasis is on TALENTED.

We produce a LOT of CS grads which unfortunately either don't want to work in the sector anymore after awhile OR are not mathematically/technically inclined and competent. I blame the second-rate universities who are more concerned about selling the programme than to make the programme useful.

Touche! Well put!