Jerome Powell and Economists Agree: Gen Z Faces a Hiring Crisis And That's Not About AI
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In 2025, rising unemployment among Americans under 25, particularly recent graduates, is a major concern. Federal Reserve Chair Jerome Powell highlights a "no hire, no fire" economy as the cause, rather than AI. Economists from Goldman Sachs and UBS agree that a broader hiring freeze is affecting new entrants to the workforce. Job reallocation has declined since the late 1990s, impacting younger workers the most. The situation poses severe consequences for Gen Z and minorities, with stricter immigration measures exacerbating the labor supply issue.
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