Renowned economist Brad DeLong recently addressed recent college graduates about their struggles in the job market. He urged them not to blame artificial intelligence for their difficulties, but rather to look at the struggling economy. According to DeLong, the long-standing rise in the college wage premium may be coming to an end, signaling a potential decline in future job prospects for graduates.
DeLong’s insights highlight that the current economic conditions play a crucial role in the job market. With many graduates entering a workforce that is not expanding as it once did, they face challenges in securing employment. He emphasizes that the factors affecting job availability are more complex than simply attributing them to advancements in technology.
Understanding the Economic Landscape
As graduates navigate this unpredictable terrain, it is vital for them to adapt and seek opportunities that may not be obvious. DeLong reminds us that awareness of the economic climate can empower graduates to make informed decisions about their careers. Instead of focusing solely on the influence of AI, they should recognize the broader economic factors that impact job availability.
