Part 9/13:
Leeman points out a distinct disparity in the labor market: youth unemployment stands at around 11%, significantly higher than the overall rate of 4.5%. Anecdotal evidence suggests that recent graduates, even those with computer science degrees, struggle to find suitable employment. The advent of AI, which is rapidly automating tasks traditionally performed by entry-level programmers, exacerbates fears of further job displacements in tech sectors.
He observes that historically, retraining programs have lagged in adapting to technological shifts, and now AI's capabilities threaten to make many skills obsolete rapidly. This could deepen structural unemployment and widen inequality unless effective retraining efforts are implemented swiftly.