Today’s young people have endured crisis after crisis—social media upheaval, a pandemic, and political turmoil. And for many eager to finally start their careers, they’re facing yet another uphill battle: entering one of the toughest job markets in a decade.
Job postings are down, and unemployment among recent graduates has climbed to 9.3%, according to the Federal Reserve—its highest level outside of the pandemic since 2014.
But one lawmaker says this may only be the beginning.
Unemployment for recent college graduates could surge to as high as 25% in the next two to three years, warned U.S. Senator Mark Warner (D-Va.) in an interview with Bloomberg, and it could cause a “level of social disruption that’s unprecedented.”
“If we eliminate that front end of the pipeline, how are people ever going to get to that mid-career spot?” Warner added to CNBC.
I’ve been saying that for several years now. Before Covid, I read three different interviews with Musk, Gates, and Cuban, and all were warning about how pervasive AI was going to get, and how it was going to replace a LOT of jobs. They all predicted that it would start with driving jobs, due to self-driving vehicles, which would replace lots of truck drivers and Uber drivers. Uber and Lyft have never made a secret of the fact that eventually they want to eliminate their human drivers and replace them with autonomous fleets.
Once you start adding in fast food locations (which can be easily automated right now), many retail and warehouse positions, lots of office positions, etc., and 25% starts to sound like a conservative estimate. I wouldn’t be surprised to see a 40% or even higher PERMANENT unemployment rate in a decade.
So what do we do with people who just don’t have robotic and software knowledge? We will have two choices - Universal Basic Income, or reduce the population by the unemployment rate. The question is which party will support which solution, and how will they implement their solution. I think we all know the answers to those questions.
republicans will pick genocide, and if centrists are still running the democratic party, they won’t pick anything else.
Actually if anyone is definitely going to be replaced with machines and automation it’s software developers and coders.
So much for “learn to code bro” lol