00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A new analysis suggests remote work, not AI, is the primary factor sidelining younger workers,
00:08according to the Wall Street Journal. A New York Federal Reserve analysis found that the
00:13unemployment rate for workers under 29 averaged 3.1% in 2017 to 2019 and climbed 20% to 3
00:23.7%
00:23in 2022 to 2025. Meanwhile, unemployment for more experienced graduates fell from 1.9% to 1.8%
00:34over the same period. Remote work is associated with a nearly one percentage point rise in youth
00:40unemployment between 2017 to 2019 and 2022 to 2024, according to the research. In non-remote roles,
00:48the gap returned to baseline after a brief 2020 spike. The research also found that
00:53reduced mentorship drives much of the disparity. Data from a Fortune 500 company showed workers
01:00receive less feedback when physically separated from colleagues. After pandemic closures, firms hired
01:07fewer inexperienced workers and more experienced ones, a pattern that continued even after offices
01:13reopened. For all things money, visit Benzinga.com.
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