The Lie Behind the “Strong Labor Market” While the White House celebrates “steady employment,” recent college grads are waking up to a harsh reality: the jobs they trained for are disappearing—and they’re not coming back. Welcome to the new economy, where artificial intelligence screens out resumes before humans even see them, and corporate America quietly automates what used to be your first job out of college. The Federal Reserve Bank of New York’s latest research spells it out plainly: the labor market has “deteriorated noticeably,” with those just stepping into the workforce taking the brunt of the blow. While the official unemployment rate still sits at 4.2%, that number is a lie for younger workers. For Americans aged 22 to…
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