Seems like this would be an education issue not a hiring issue. e.g. are there really a lot of underemployed / unemployed black or hispanics with CS degrees?
You are correct. Blacks and Hispanics are underrepresented in colleges. To make matters worse less than 10% of Blacks/Hispanics get STEM degrees. For White students approximately 20% get STEM degrees. Not to mention, the graduation rate for Blacks and Hispanics is much lower than Whites and Asians. Obviously this is going to have a dire effect on the representation of Blacks and Hispanics in STEM careers. I read an article that states if Black and Hispanic students raise their graduation rates in science and engineering to equal the rate attained by Asians this would raise new STEM graduates by 48,000 annually. In addition, raising Black/Hispanic graduation rates to their share of the population and to reflect that of Asians would increase Black/Hispanic STEM graduates by more than 140,000. So, yeah, it's an education issue. I don't see this changing anytime soon, because American high school students treat STEM education as if it was kryptonite.