47% of recent graduates say AI has already impacted hiring in their field, according to an April survey from ZipRecruiter.
"But is AI really the problem, or is it more complicated?" asks NPR. "Here's what economists have to say."
According to the Federal Reserve Bank of New York, the unemployment rate for recent graduates — which it defines as 22-to-27-year-olds with a new bachelor's degree or higher — was 5.7% as of June, more than the rate for all workers, which stands at 4.1%... Stanford University economist Erik Brynjolfsson says AI is impacting the labor market for entry-level roles. "AI is not the whole story, but it's part of the story and the evidence is building," he says. Using payroll data, Brynjolfsson and his co-authors found that since late 2022 — when large language models like ChatGPT started popping up — early-career workers ages 22 to 25 in AI-exposed roles, like software developers and marketing managers, have experienced a 16% relative employment decline. In comparison, employment rates for older workers in AI-exposed fields and for all workers in jobs that aren't easily automated — like home health aides, physical therapists and construction workers — remained stable or have grown over that same time period... [Though he also says often when companies pull back on hiring, they cut junior roles first.] ...
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