"As more than 19 million U.S. college students prepare to wrap up their fall semester and begin looking ahead to securing internships and jobs next spring, it's natural for them-and their families-to worry about the fate of the job market in the age of AI. Indeed, Anthropic's CEO predicted this summer that within the next five years-and maybe even sooner-adoption of AI could reduce entry-level hiring in white-collar professions by 50%."
"To be sure, these changes are unsettling. But-despite current, often overheated rhetoric-they're not unprecedented. Of course, we've heard about the lamplighters and horseshoe makers. A hundred years ago, they were displaced by electricity and cars, and the economy soldiered on and they found something else to do. But the internet bubble 25 years ago, when we were first launching our own careers, is an even more salient example."
More than 19 million U.S. college students are finishing their fall semester and preparing to seek internships and jobs next spring. Widespread AI adoption could cut entry-level hiring in white-collar professions by as much as 50% within five years, according to industry forecasts. Early-career corporate job postings have fallen about 15% while applications have risen roughly 30%. A Stanford study indicates AI displacement is disproportionately affecting younger workers. Historical precedents such as displacement of lamplighters and horseshoe makers, and job losses during the internet bubble, show technological shifts can cause job churn while the broader economy adjusts.
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