"I can honestly say that if I was 18 now, there is no way I would go to university only to leave with huge debts and poor job prospects. Instead, I would become an electrician or similar trade."
"The blindingly obvious conclusion [is] that AI is already causing serious damage to aggregate job prospects, especially those of recent university graduates. Once you factor in the current clear benefits of surging AI-led productivity growth for investors, along with lower unit labor costs, inflation and interest rates."
Albert Edwards, a macroeconomic analyst at Societe Generale, warns that artificial intelligence is damaging job prospects for recent university graduates while benefiting investors through productivity gains and lower labor costs. He argues that young people should pursue skilled trades instead of attending university, citing the burden of student debt combined with diminishing employment opportunities in white-collar sectors. Edwards emphasizes this represents his personal analysis rather than his bank's official position. His recommendation reflects broader concerns about economic inequality and capitalism's sustainability as AI reshapes labor markets.
#ai-and-employment #higher-education-alternatives #skilled-trades #economic-inequality #labor-market-disruption
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