St. Louis Fed Study Ties 2.9-Point Youth Jobless Rise to Weak Hiring, Not AI
Updated
Updated · Bloomberg · Jun 30
St. Louis Fed Study Ties 2.9-Point Youth Jobless Rise to Weak Hiring, Not AI
3 articles · Updated · Bloomberg · Jun 30
Summary
A St. Louis Fed study found weak hiring drove most of the rise in US unemployment among 18- to 24-year-olds between April 2023 and December last year.
The report attributed a 2.9 percentage-point increase in youth unemployment to a shortage of job openings, more than double the 1.1-point increase linked to employers shifting toward AI-related roles and specialized skills.
AI still had a meaningful effect on young workers, but the study said the broader lack of openings was the larger force behind their worsening job prospects.