Remote work – not AI – is killing job prospects for the youth
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
Fresh 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.
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. The analysis notes that the prevalence of remote work has increased since COVID-19, and it believes those two trends have more than just a correlation.
“Our analysis suggests that these trends are related, with remote work making it more difficult for managers to train and mentor new employees,” the Fed said of its data....
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