""Our analysis suggests that, similarly to previous waves of technological change, AI-driven displacement could impose lasting costs on affected workers, worsening labor market outcomes for several years.""
""Workers displaced by technological shifts also saw a dip in their earnings potential, facing a loss of more than 3% even after they found a new job.""
""During the decade after losing their job, those workers grew their earnings by 10 percentage points less than people who stayed employed and 5 percentage points less than those who lost jobs in other industries.""
""Displaced workers will not only deal with lost income but also broader challenges associated with their financial status, from delayed homeownership to a lower likelihood of getting married.""
Research indicates that workers whose jobs are most affected by AI may face significant challenges in securing new employment and experience economic hardships. Historical data shows that those impacted by technological changes took longer to find new jobs and faced increased unemployment risks, especially during recessions. Displaced workers also suffered long-term earnings declines, with a notable dip in income potential. The consequences extend beyond finances, affecting personal milestones such as homeownership and marriage prospects.
Read at Fast Company
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