Jerome Powell Discusses AI's Impact on Youth Employment and Economic Trends
TL;DR Summary
Federal Reserve Chair Jerome Powell highlighted the challenging job market for recent graduates, especially among Gen Z and minorities, amid low hiring and firing rates, with AI potentially influencing employment trends. The long-term effects of this employment slump could impact lifetime earnings and economic mobility for young people, raising concerns about persistent labor market scars.
Topics:business#ai-impact-on-jobs#economy#gen-z-employment#jerome-powell#labor-market#youth-unemployment
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