"The case that AI is already stealing young people's jobs is based on a statistical mirage. Historically, recent college graduates have had a much lower unemployment rate than the average worker."
"The unemployment rate can be a highly misleading statistic. The Bureau of Labor Statistics counts individuals as 'unemployed' only if they've actively looked for work in the past four weeks."
"Economists Adam Ozimek and Nathan Goldschlag recently took a deeper look at the data and found that a significant number of young people want to work but have stopped looking for a job."
The unemployment rate for recent college graduates has increased to nearly 6 percent since the release of ChatGPT, the highest in over a decade. Many attribute this rise to AI displacing entry-level jobs, but evidence suggests otherwise. The unemployment rate can be misleading, as it only includes those actively seeking work. Economists have found that the factors affecting young people's job prospects are not directly linked to AI, indicating a more complex job market situation.
Read at The Atlantic
Unable to calculate read time
Collection
[
|
...
]