New York Fed: Remote work, not AI, is driving youth unemployment among recent graduates
By
Brandon Vigliarolo
If you only eat one bagel today, this is the bagel.
Summary
The New York Federal Reserve's analysis indicates that remote work, not AI, is the primary driver of rising youth unemployment among recent college graduates. While older, more experienced graduates have seen their employment numbers recover post-pandemic, younger workers continue to struggle. The Fed suggests that although young professionals may be productive working from home, the quality of their output suffers, making companies hesitant to hire them for remote positions.
Key quotes
· 3 pulledFresh college graduates frozen out of the job market shouldn't blame AI for their struggles, says the New York Federal Reserve. Instead, get angry at the rise of remote work.
Young professionals may be perfectly productive while working from home, says the New York Fed, but the quality of their output isn't so great, so companies don't want to hire them
According to the Fed's analysis, youth unemployment has risen significantly since the coronavirus pandemic, and hasn't receded in the same way that unemployment numbers for older, more experienced college graduates has in recent years.
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