There Is Now Clearer Evidence AI Is Wrecking Young Americans’ Job Prospects | A Stanford study shows a 13% decline in employment for entry-level workers in the US due to AI
https://www.wsj.com/economy/jobs/ai-entry-level-job-impact-5c687c84?gaa_at=eafs&gaa_n=ASWzDAj8Z-Nf77HJ2oaB8xlKQzNOgx7LpkKn1nhecXEP_zr5-g9X_3l1U0Ns&gaa_ts=68aed3b9&gaa_sig=DzppLQpd8RCTqr6NZurj1eSmlcU-I0EtTxLxrpPArI2qKHDih_3pN5GHFMBau4Cf4lbiz18B3Wqzbx4rsBy-Aw%3D%3D
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“Young workers are getting hit in fields where generative-AI tools such as ChatGPT can most easily automate tasks done by humans, such as software development, according to a paper released Tuesday by three Stanford University economists.
“There’s a clear, evident change when you specifically look at young workers who are highly exposed to AI,” said Stanford economist Erik Brynjolfsson.
Their finding: Overall employment in those categories has softened since late 2022 relative to other occupations, with the weakness concentrated among younger workers.
“After late 2022 and early 2023 you start seeing that their employment has really gone in a different direction than other workers,” Brynjolfsson said.
Among software developers aged 22 to 25, for example, the head count was nearly 20% lower this July versus its late 2022 peak.”
Chatgpt can’t develop software for shit. It’s litetally worse than a junior developer with Chatgpt. I’d say the later is a bit less dangerous (while still insanely dangerous).
It was never in doubt, for me. The whole discussion has been dominated by talk of replacing workers, companies making layoffs, etc.
AI is going to create a new serf class. Mass unemployment.
> The work—which hasn’t been peer reviewed
Oh.
> The Stanford economists first looked at areas where AI can automate many of the tasks workers perform, and therefore potentially replace them. Those include jobs such as software developers, receptionists, translators and customer service representatives. Their finding: Overall employment in those categories has softened since late 2022 relative to other occupations, with the weakness concentrated among younger workers.
So no causal link whatsoever.
False. It’s not AI, it is employers and a lack of government oversight wrecking job prospects. Most implementations of LLMs are lousy and companies are embracing enshittification.
The technology could be used to make companies, along with their products and services much better. It could be used to bring along a 4 day work week.
The real story, behind the story, is that there is so much money backing up AI that many companies are more interested in AI investment dollars than actually earning business from customers.
Ok, but Rupert Murdoch’s Wall Street Journal lacks credibility, and you’re not paying attention if you think the Trump Administration’s economic policies are not having an impact on the job market for all entry level skilled trades.
[The unemployment rate among recent graduates has been increasing this year to an average of 5.3%, compared to around 4% for the labor force as a whole, making it one of the toughest job markets for recent graduates since 2015, according to an analysis by the Federal Reserve Bank of New York released Friday. **“Recent college graduates are on the margin of the labor market, and so they’re the first to feel when the labor market slows and hiring slows,” said Jaison Abel, an economist at the Federal Reserve Bank of New York.** Across the economy, hiring in recent months has ground to its slowest pace since the start of the pandemic, with employers adding just 73,000 jobs in July, according to data released Friday. The number of longer-term unemployed people who have been out of work for more than 27 weeks increased last month by 179,000 to 1.8 million](https://www.nbcnews.com/news/amp/rcna221693)
**Sharp revisions of government data show the U.S. created just 33,000 jobs total in May and June, while July’s number came in soft, too.**
*AI is not the root of the problem.*
Republican policies are knocking huge holes in the economy. Fresh graduates are always the first to take the hit when the economy sours.