Wages haven't fallen—yet

Cara notes employment dropped for youth but wage trends remain similar so far across exposed and unexposed groups.

Play episode from 06:20

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Episode notes

Yesterday, Bank of Canada governor Tiff Mackem warned that early evidence shows AI is reducing the number of entry-level jobs available.

Are we heading toward a future of mass unemployment, or is AI just the latest "calculator" to change how we work? Cara Stern and Mike Moffatt dive deep into the data behind AI's impact on demographics and the workforce.

While Mike leans into historical optimism, Cara brings the receipts: a recent Stanford study showing a 13% drop in employment for young workers in AI-exposed fields since the release of ChatGPT. We explore which jobs are "AI-proof," why Gen X seems to be winning (again), and what policy changes could help young people get a foot in the door.

Chapters:

00:00 Introduction

00:29 Why Mike is unconcerned about AI taking his job

01:30 Why Cara is worried about AI

02:21 Young works AI exposed jobs see 13% drop

03:52 Examining AI exposed occupations

04:30 How AI impacts different cohorts of workers

06:12 Understanding the impact of AI on wages

06:54 Being well rounded is the best protection

08:16 Trades, healthcare and education will continue to be in demand

09:20 Mike shares a story from the olden times

10:00 Mike’s take on going into the trades