Goldman Sachs Economists Warn of Jobless Growth for Gen Z Workforce | AI News Digest
Goldman Sachs economists David Mericle and Pierfrancesco Mei have raised concerns about a notable phenomenon in the U.S. labor market, which they have termed 'jobless growth.' Their findings, published on October 13, echo comments made by Federal Reserve Chair Jerome Powell regarding a 'low-hire, low-fire' climate. This trend is particularly affecting recent graduates and younger workers, especially those from minority backgrounds, who are finding it increasingly difficult to land jobs. The analysis suggests a shift in the traditional routes to employment, highlighting broader economic challenges. If this trend continues, it could hinder economic recovery and alter workforce dynamics, leaving many individuals disconnected from job opportunities even as the economy expands.
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