NEW: There’s been a lot of discussion lately about rising graduate unemployment. I dug a little closer and a striking story emerged: Unemployment is climbing among young graduate *men*, but college-educated young women are generally doing okay. www.ft.com/content/a9ea...
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This suggests tech’s hiring contraction of 2023-24 may not have been primarily a story of AI job displacement, but rather the downslope of the sector’s meteoric post-pandemic hiring boom, with recruitment now rebounding from that trough.
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Is this data global? Because in the US, Section 174 of the tax code was removed in 2022, which meant R&D headcount was no longer tax deductible (more below). I have thought for a while now that was a large contributor to hiring issues, not necessarily AI. (174 was reinstated by Trump's Big Bill).
So if an AI “job-pocalypse” for computer science graduates doesn’t seem to explain the graduate male malaise, what does? For that answer and more, you can read the full article here: www.ft.com/content/a9ea...
This shows the post- pandemic boom quite well www.economist.com/business/202...