00:00If you can't find a job, you may want to blame work from home, not AI.
00:04For recent college graduates, the unemployment rate is reaching recession levels.
00:08Everyone thought AI was the problem because unemployment is higher in industries that are most AI intensive.
00:14But these are also the jobs that can be done from home the easiest.
00:17They're knowledge intensive, they rely on computers, and they're white collar.
00:20A new study from economists at the London School of Economics estimates that the role of AI is actually negligible
00:26in hiring once you control from work from home.
00:28In fact, that study and another one from the New York Fed both conclude that work from home is the
00:34real problem.
00:35It can make young workers both less productive and harder to manage.
00:39And that makes them more expensive to hire and less attractive as candidates.
00:42The cost to young graduates isn't just a harder job market, it's a lack of training and mentorship.
00:47The new research doesn't argue, however, that AI won't have an impact on hiring in the future.
00:52In fact, it could make this remote work issue even worse.
00:54New hires out of college may figure out on their own how to do tasks, maybe even with the help
00:59of AI.
01:00But if they don't come into the office, they won't learn much about office politics, how to charm clients, or
01:05how to build networks.
01:06All of these skills will be even more valuable in the AI job market.
01:09And none can be gained without coming into the office and observing your colleagues.
01:12There are a lot of factors that go into the health of the labor market.
01:15And if the economy worsens, then the combination of AI and work from home could make it even harder for
01:20young graduates.
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