←back to thread

Entry-level jobs down by a third since launch of ChatGPT

(www.personneltoday.com)
118 points lsharkey602 | 1 comments | 30 Jun 25 11:38 UTC | HN request time: 0.2s | source
Show context
bachmeier ◴[30 Jun 25 14:14 UTC] No.44423567[source]▶
Okay. It also coincides with the end of the post-pandemic hiring boom and the UK bank rate going from 0.1% to 5.25%. It's kind of funny that reliable data analysis has never been part of the AI hype when you consider that AI is used for data analysis.
replies(10): >>44423667 #>>44423680 #>>44423720 #>>44423733 #>>44423740 #>>44423744 #>>44423756 #>>44423954 #>>44424140 #>>44424426 #
eru ◴[30 Jun 25 14:22 UTC] No.44423667[source]▶
> It also coincides with the end of the post-pandemic hiring boom and the UK bank rate going from 0.1% to 5.25%.

I agree that the former is a strong signal. However the latter doesn't tell you anything without further context: did interest rates go up, because the economy was strong, or did rising interest rates dampen the economy?

(It's similar to how you can't tell how hot it is in my apartment, purely from looking at my heating bills: does a low heating bill mean that it's cold in my flat, because I'm too cheap too heat? Or does a low heating bill mean it's summer and really hot anyway?)

replies(3): >>44423737 #>>44423818 #>>44424568 #
1. HDThoreaun ◴[30 Jun 25 14:26 UTC] No.44423737[source]▶
> did interest rates go up, because the economy was strong, or did rising interest rates dampen the economy?

It doesnt matter. Whether it went from strong -> weak or weak -> weaker is beside the point, the question is if genAI is the main reason for entry level job loss and raising interest rates are another possible answer.