Image: Mike Segar/Reuters
Trying to get a job: the Gen Z version of walking uphill to school both ways. Mounting evidence exists that indicates today's young job-seekers are facing their fair share of hardship when seeking out work:
Some majors are more affected than others. The unemployment rate among college graduates who studied subjects like construction services (0.7%) and nutrition sciences (0.4%) remains close to zero. But computer engineering majorsāonce among the most highly sought-after specializationsāhave the third-highest unemployment rate for recent grads (7.5%), with computer science and mathematical majors in similar boats.
Bottom line: At least some of the trend can be attributed to AIās recent explosion onto the scene. A LinkedIn report last month found 63% of executives surveyed agreed that AI will sooner or later take on some of the mundane, manual tasks currently assigned to entry-level employees.
š§² Several major US automakers could be forced to shut down some car production in the coming days or weeks if they canāt find workarounds to recent Chinese restrictions on rare-earth magnets, per new reports from the Wall Street Journal and NY Times.
š³ US consumers are cooking at home at the highest rate since early 2020, when the pandemic first started, according to Campbell's.
š Novo Nordisk, which briefly became Europeās most valuable company in 2023 due to blockbuster weight-loss/diabetes drugs Ozempic and Wegovy, now finds itself with a rapidly slimming market share and stock price (-46% over the past year).
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