"A new paper from Stanford University's Digital Economy Lab drew wide attention last week: it found that since late 2022, early-career workers aged 22 to 25 in jobs most exposed to AI automation-like software development and customer service-have seen steep relative declines in employment. The researchers tested other possible explanations, from pandemic-related education setbacks to economy-wide factors like rising interest rates, but concluded that the rise of generative AI was the most likely driver"
"There is also a new Harvard study which also found that the release of ChatGPT in November 2022 marked a turning point in the labor market From 2015 through mid-2022, hiring was on the rise for both junior and senior roles. But beginning in 2022, entry-level employment stalled and then slipped into decline. According to the study, headcount for early-career roles at AI-adopting firms has fallen 7.7% over six quarters since early 2023. The study also found that senior staff, were largely spared."
Entry-level employment for early-career workers aged 22 to 25 in roles highly exposed to AI automation—such as software development and customer service—has fallen sharply since late 2022. Hiring for junior roles stalled beginning in 2022 while senior hiring continued to rise. Headcount for early-career roles at AI-adopting firms declined roughly 7.7% over six quarters since early 2023. Other factors like pandemic-related education setbacks and rising interest rates were considered, but generative AI adoption appears the most likely driver. In tech news, OpenAI acquired Statsig for $1.1 billion, Mistral moved toward a $14 billion valuation, and Amazon showed signs of entering the AI agent market.
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