Ah, so 2 things ruining the job market for young grads:
🌏Remote work -- Work that don't require you to be somewhere is now open to anyone anywhere.
🤖A.I. -- Entry level jobs have vanished. As A.I. helps simple tasks get done, entry-level job workloads has been moved onto experienced employees.
Queenie Chan
Remote Work, Not AI, Has Sidelined Recent College Graduates, Research Finds
The job market for young college graduates has been disrupted, but new research from the Federal Reserve Bank of New York suggests that remote work may be the main cause of this di…
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The job market for young college graduates has been disrupted, but new research from the Federal Reserve Bank of New York suggests that remote work may be the main cause of this disruption. The study analyzed federal employment data and found that companies are less likely to hire recent college graduates into occupations that can be done remotely. Researchers believe that employers are hesitant to put new workers in remote settings because it is harder for them to learn from coworkers. The unemployment rate among younger college graduates, those under 29, rose by 20% after the pandemic, while unemployment among older graduates fell slightly. The study compared unemployment rates before and after the pandemic, from 2017 to 2019 and 2022 to 2024, respectively. The researchers found that unemployment rose as remote work grew fourfold, suggesting a link between the two trends. The New York Fed report warns that high unemployment among young college graduates is concerning because early-career experiences can have lasting consequences. Individuals who start their job search in tough labor markets tend to have lower earnings and slower career progression compared to their peers who started in better market conditions. The researchers speculate that remote work makes it difficult for managers to train and mentor new employees, which may be a major factor in the high unemployment rate among young graduates. Overall, the study suggests that the shift to remote work may be a significant contributor to the challenges faced by young college graduates in the job market.