Is the AI boom hiding a jobs crisis for graduates? – Yahoo Finance

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00:00 Speaker A

I think there’s going to be top-line GDP growth uh and productivity growth among public companies and enterprises. Uh, but you have to take into account that right now a lot of the growth that Mark Zandi is pointing out is infrastructure spend to the tune of two to three trillion dollars. So of course that’s going to end up creating many jobs in the build out.

00:22 Speaker A

Uh simultaneously, you have Microsoft offering to buy out 60,000 employees uh and public companies laying people off right and left. Uh what Clara is saying is very much represented right now in the 42 to 50% of recent college graduates who are underemployed.

00:39 Speaker A

And 25% of small private colleges are set to close in the next 10 years. So you’re seeing a massive compression in the benefit that college graduates used to enjoy, which is thinking that you’re going to have a stable white collar job in front of you. Some of the opportunities that are getting created are in different parts of the country for people who are much, much handier.

01:01 Speaker B

Right. So what you’re saying is essentially sort of the huge data center build out, which is costing hundreds of billions, trillions of dollars a year, may be masking some of the white collar jobs or jobs for early grads. Clara, what can they do about it?

01:18 Clara

Well, I think that’s the key is let’s focus on what type of action we can take across different stakeholder groups. For what we’re doing, we’re focused on DearCC. It’s a Gen Z platform. We want to give people real-time job market data so that they can be smarter about which jobs they’re applying to, what they’re studying in the first place, whether they even want to go to college.

01:35 Clara

Um two is giving them the AI skills, you know, hand out hands-on skills to build AI agents, whether it’s for marketing or for a law job or for accounting. Everyone needs to be very proficient with AI and so many colleges and universities today are just not preparing people.

01:52 Clara

And then third is we want to give people a community because, you know, I think it it feels isolating sometimes to to be at home and move back into your parents’ basement after finishing your degree. And we want young people to know that that they’re not alone. And this isn’t their their fault, but it is their future and they can own it and we’re here to help them.

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