In 2019 nearly 10,000 students earned bachelor physics and astronomy degrees in the US. In the same year, approximately 3,500 students were first year physics and astronomy graduate students, and there were 600 open physics and astronomy faculty positions in universities and colleges. These statistics indicate that a significant majority of physics and astronomy students earning any academic degree end up in a non-academic employment.
In its 2016 report The Joint Task Force on Undergraduate Physics Programs acknowledged that while “for many faculty members, a successful physics career means an academic research and teaching position like the ones that they themselves hold,” departments must shift their focus to better serve their student population. The report finds that there is broad consensus on the skills, knowledge, and attitude students need, and that the public and the students are expecting more for the time and financial investment in their education.
https://cse.umn.edu/physics/news/new-careers-program-brings-new-opportunities-students