AI's Impact: Young Workers Face Job Decline in Affected Professions
A new study by Stanford University researchers reveals a significant decline in employment for young workers in professions heavily affected by AI tools like ChatGPT. The research, based on data from Indeed, shows a 6% decrease in jobs for 22 to 25-year-olds in these sectors since late 2022.
The study, titled 'GenAI Skill Transformation Index', analyzed nearly 2,900 job skills and found that AI is adept at replacing tasks based on codified knowledge but struggles with implicit knowledge. This distinction explains the observed trends, with young workers, such as software developers and customer service representatives, being disproportionately affected in jobs near me.
Contrary to general economic shocks, the job decline is concentrated in professions where AI directly automates tasks. The study found that employment for young workers in these professions has decreased by 13% since late 2022. Notably, the results remain consistent even after excluding computer professions or the tech sector, and apply to both remote and non-remote jobs. Conversely, employment for the 35 to 49 age group has increased by over 9% in heavily exposed professions.
The study suggests that the job market is adjusting primarily through the number of jobs, not wages. However, the authors plan to continue monitoring the situation to determine if these trends will persist or if there will be an adjustment in the job market. As AI continues to evolve, understanding its impact on employment, particularly for young workers, is crucial for policy-making and workforce planning.
Read also:
- New Immigration Law Guide: Practical Advice for Legal Professionals
- Willich's Senior Citizens Prepare for Council Elections, City Celebrates International Day of Older Persons
- Indigenous-Managed Forests Key to Fighting Amazon Fires and Saving Lives
- Chronic Stress: Holistic Management for Physical and Mental Health
