����vlog

TOUGHER JOB MARKET RIGHT NOW. THAT’S ACCORDING TO A RECENT REPORT BY THE NEW YORK FEDERAL RESERVE. IT SAYS THAT LABOR CONDITIONS HAVE DETERIORATED NOTICEABLY IN THE PAST FEW MONTHS FOR RECENT COLLEGE GRADUATES. BUT IT’S NOT JUST COLLEGE GRADS ENTERING THE WORKFORCE RIGHT NOW. IT’S SOME HIGH SCHOOL GRADS. MARTHA ROSS IS A SENIOR FELLOW AT BROOKINGSMETRO WHO STUDIES YOUNG ADULTS AND THE LABOR MARKET. IT’S SO NICE TO HAVE YOU. THANK YOU FOR JOINING ME. THANKS FOR HAVING ME. THERE ARE A NUMBER OF STORIES THAT WE’VE DONE OF FOLKS WHO HAVE OPTED OUT OF GOING TO COLLEGE, PARTLY BECAUSE OF THE COST, BUT YOU’VE SAID YOU YOU LAND IN THE COLLEGE IS A WORTHWHILE COST. YOU’RE GOING TO DO BETTER IN THE LABOR MARKET IF YOU HAVE A COLLEGE DEGREE. BUT I WOULD WANT THEM TO THINK CAREFULLY AND GET SUPPORT FROM KNOWLEDGEABLE FOLKS ABOUT HOW TO MAKE THAT TRANSITION. BECAUSE IF YOU DO NOT HAVE GUIDANCE FROM FAMILY OR FROM SCHOOL, IT IS A HARD PATH TO FIGURE OUT WHAT SCHOOL IS RIGHT FOR YOU, HOW TO APPLY, HOW TO GET FINANCIAL AID, WHAT IS THE ADVICE THAT YOU GIVE STUDENTS WHO ARE HEADING INTO COLLEGE TO COME OUT THE OTHER END, MOST READY FOR THE JOB MARKET, TO THE EXTENT THAT YOU CAN TRY TO BRIDGE THE THE GAP BETWEEN THE WORLD OF SCHOOL AND WORK ALL THROUGHOUT YOUR EDUCATIONAL EXPERIENCE, THE BETTER. SO, YOU KNOW, LOOK FOR INTERNSHIPS, LOOK FOR TYPES OF CLASSES OR PROGRAMS THAT APPEAR TO HAVE RELATIONSHIPS WITH A GIVEN, YOU KNOW, INDUSTRY OR SECTOR. IT ALSO MATTERS WHAT TYPE OF JOB YOU HAVE AND SOME OTHER RESEARCH THAT I DID. IF YOU WERE IN A SERVICE SECTOR JOB AT AGE 25, YOUR CHANCES OF MOVING INTO A HIGHER WAGE JOB DOWN THE LINE WERE WERE REDUCED. AS TECHNOLOGY KIND OF CHANGED. WHAT’S OUT THERE FOR YOUNG PEOPLE? YEAH, GENERATIVE. I WILL DEFINITELY AFFECT PEOPLE WITH COLLEGE DEGREES. AND IT CAN BOTH HELP WITH PRODUCTIVITY AND IT CAN ALSO POTENTIALLY DISPLACE SOME WORKERS. ONE OF THE REALLY WORRYING ELEMENTS IS, DEPENDING ON HOW COMPANIES USE IT, GENERATIVE AI HAS THE POTENTIAL TO REALLY CUT OFF THE BOTTOM OF THE CAREER LADDER. THINK ABOUT, YOU KNOW, MARKET ANALYSTS, RESEARCH ASSISTANTS, PEOPLE DOING COGNITIVE. WORK THAT GENERATIVE AI PROGRAM CAN MAKE EASIER. I’M TRYING TO FIGURE OUT IF YOU’RE OPTIMISTIC OR IF YOU’RE PESSIMISTIC ABOUT HOW DIFFICULT THE JOB MARKET IS FOR THIS GROUP OF YOUNG PEOPLE. I WOULD SAY IT’S A MIX. NOW, I’VE BEEN PESSIMISTIC AND WORRIED ABOUT THE JOB PROSPECTS FOR PEOPLE WITH ONLY A HIGH SCHOOL DIPLOMA BECAUSE THEY THEY’RE LOOKING AT HIGHER UNEMPLOYMENT RATES AND LOWER WAGES DOWN THE LINE. NOW, I AM ALSO MORE WORRIED ABOUT PEOPLE WITH COLLEGE DEGREES BASED ON EARLY INDICATIONS OF WHAT GENERATIVE AI CAN DO. ONE THING I WOULD SAY TO EMPLOYERS, HOWEVER, IS THAT THEY SHOULD THINK LONGER TERM, AND IF THEY ARE GOING TO ELIMINATE OR REDUCE THE NUMBER OF ENTRY LEVEL JOBS, THINK ABOUT HOW THEY’RE GOING TO GROW THEIR WORKFORCE OVER TIME. IF ALL EMPLOYERS ARE DOING THAT, A BUNCH OF ENTRY LEVEL WORKERS ARE NOT GOING TO BE LEARNING WHAT THEY NEED TO ADVANCE. AND OFTEN AN EMPLOYER STRATEGY IS TO POACH OTHER WORKERS FROM OTHER COMPANIES. AND IF EVERYONE DOES THAT, THEN THERE WILL BE NO ONE TO POACH. MARTHA ROSS I