I wrote this more than 10 years ago, and I'm going to cite it here because it bears repeating:
https://www.physicsforums.com/threads/employment-in-physics.51525/
So here's something I find happening more than I thought it should. I see people (students), coming in here, and worrying about finding jobs and employment in physics after they graduate, and if they should just do engineering or computer science instead. Then when I ask the what they intend to major in, I get replies such as "theoretical physics", "astrophysics", "cosmology", "maybe particle physics", etc.. etc. That is usually when I smack my forehead (you should see how bruised it is now).
I mean, c'mon people! You worry about finding a job, and then you pick an area of study that traditionally has been quite a challenge in getting a job in that field! What gives?!
I've said it before, and I'll say it again. Physics isn't just the LHC, the Big Bang, the String Theory, etc.. etc. Physics is also your iPhone, your MRI, your solid state memory devices, etc... etc.! The largest division in the American Physical Society is the Condensed Matter/Material Science division, areas of physics that are often considered as "applied". If you want to do physics, it shouldn't be "it is either {insert some esoteric physics area here} or bust!", i.e. if you can't do that area, then you'll leave physics and do engineering or CS. It is as if there's nothing in between, and as if other areas of physics don't even deserved to be looked at!
There is no guarantee that you'll get a job in physics after you graduate. But there are traditionally areas of physics that have a higher "employability" than others, simply because the knowledge and/or the skills you acquired during your training might be useful in many more areas than just within academia. I had mentioned this in
another thread regarding accelerator physics and detector physics. There are many ways to get a PhD in physics and still have a fair chance of getting a job. It depends on what you can do after you graduate!
Zz.