The Fed has also struggled in dealing with this labor market.
By Wolf Richter for WOLF STREET.
On one side, there are the tech layoff announcements, often to clean up what tech CEOs widely called “over-hiring” to describe what they’d done in 2020-2022, when their payrolls exploded; Block CEO Jack Dorsey was the latest on X, “yes we over-hired during covid…,” after Block announced that it would lay...
The article presents a complex picture of the job market in the era of automation and AI. On one hand, there are opportunities in sectors like shipbuilding, while on the other, recent college graduates in STEM fields face challenges finding employment in their chosen fields. The article also highlights the potential downside of automation, with AI replacing entry-level workers and breaking the job application process to favor connections over merit.
It is important to note that the role of monet...