Gen Z Can't Rely On 'I Can Work Hard,' Says Jamie Dimon — AI Is Rewriting The Rules For $62K Jobs And First-Time Home Buyers

The content that effort unsocial tin unafraid a unchangeable aboriginal is fading arsenic artificial quality reshapes however Gen Z enters enactment and lodging markets.

That displacement is already visible, JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon told CNN recently. He said past generations could physique unchangeable lives done accordant labor, adjacent without precocious education, but today's workers look antithetic conditions, from rising surviving costs to accelerated changes driven by technology.

"When you graduate, whether it's precocious school, assemblage assemblage oregon college, you request the skills to get the job," Dimon said.

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"It's not capable anymore to say, ‘I tin enactment hard.' In the aged days, you could beryllium successful 10th grade, spell get a mill [job] successful Detroit, and yet you could spend a family, a home, a car and that whitethorn not beryllium existent anymore."

The lodging marketplace offers 1 of the strongest signs of the shift. A measurement from the National Association of Realtors' Housing Affordability Index fell to 97.4 successful Q2, according to the commercialized group, indicating that emblematic families whitethorn nary longer gain capable to suffice for a owe connected a median-priced home.

Cost pressures widen beyond housing. Tuition, schoolhouse fees, and childcare costs crossed mean U.S. cities roseate from an scale level of 100 successful 1983 to 897 by September, according to the Federal Reserve Bank of St. Louis.

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Dimon said these conditions marque method skills much invaluable than they were successful earlier decades. He said AI and coding are areas "we cognize we request the skills," adding that manufacture grooming courses supply fast, accessible routes into unchangeable jobs.

Twenty-four percent of workers ages 18 to 34 are "very worried" that AI volition regenerate their occupation wrong the adjacent 2 years, portion lone 10% of workers ages 55 and older reported the aforesaid level of concern, according to probe published by Deutsche Bank successful September.

Government projections bespeak the displacement toward specialized roles. The U.S. Bureau of Labor Statistics projects that upwind turbine work technicians volition spot employment turn astir 50% from 2024 to 2034, with a median yearly wage astir $62,580, and introduction typically requires a postsecondary certificate alternatively than a four-year degree.