Citi Foundation is putting $25M toward tackling young adults’ unemployment and AI labor disruptions
The U.S. unemployment rate for 22- to 27-year-old degree holders is the highest in a dozen years outside of the pandemic. Companies are reluctant to add staff amid so much economic uncertainty. The hiring slump is especially hitting professions such as information technology that employ more college graduates, creating nightmarish job hunts for the increasingly smaller number who do complete college. Not to mention fears that artificial intelligence will replace entry-level roles.