According to the Fed’s analysis, youth unemployment has risen significantly since the coronavirus pandemic, and hasn’t receded in the same way that unemployment numbers for older, more experienced college graduates has in recent years. The analysis notes that the prevalence of remote work has increased since COVID-19, and it believes those two trends have more than just a correlation.
“Our analysis suggests that these trends are related, with remote work making it more difficult for managers to train and mentor new employees,” the Fed said of its data. “Accordingly, companies may be reluctant to hire less-experienced workers in distributed work arrangements.”
🔗 Remote work – not AI – is killing job prospects for the youth