In my opinion, this highlights the importance of the hiring channel. When employers want to shrink their workforce (or at least slow its growth), they use hiring as their primary lever; and when it’s time to expand/accelerate, they pull the same lever. Ergo, young people are highly levered to sectoral, occupational or economy-wide cycles, something

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One thing that struck me about their core insight - that AI is having a negative impact on AI-exposed occupations - is that it seems a lot like what we’ve seen in prior sectoral crashes.

For instance, construction employment had a nasty contraction after 2006. And employment in younger age categories plummeted even as the employment of older workers

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