Since Covid, employees have had the better of the employment market, but the pendulum of power has started swinging back to employers. This transition had begun before the unprecedent economic events of the past week and should surprise no one if the employment market deteriorates as a result. (I know there was a good employment report this week, but that’s backward looking. Wait.).
Gen Z’s employment prospects may be at greatest risk not only because of economic factors, but also due to technology as well; specifically, AI.
NYU Professor and entrepreneur Scott Galloway warns that the “youth labor market is quietly unraveling — and AI is accelerating the decline. The unemployment rate for 20- to 24-year-olds hit 8.3% in February, more than double the jobless rate for workers between the ages of 25 and 54.”
Whether you’re an employer, parent or have young people in your life that you care about, I suggest you check out Professor Galloway’s recent blog post “AI is Quietly Shutting Gen Z Out of the Labor Market.”
