쉐도잉 연습: Who should new grads boo more? AI or remote work? | The Indicator - YouTube로 영어 말하기 배우기
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NPR.
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This is the indicator from Planet Money, also known as the 2026 Ambie Award winning Best Business Podcast.
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I'm Adrian Ma.
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I'm Darian Woods.
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And I'm Waylon Wong.
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And it is Jobs Friday.
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It's the day each month where we look at the latest government jobs report
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and we check in with how American workers are doing.
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That is right.
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And according to the latest report from the Bureau of Labor Statistics, the unemployment rate in May remained at 4.3%, so same as the past couple of months,
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and employers added 172,000 jobs.
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That's a pretty good number overall.
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And, you know, this is the third month in a row that employers have added a decent number of jobs.
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That's true, but we always like to dig beneath the headline numbers and add some detail to the picture.
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Computer, enhance!
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So after the break, we'll explain what is driving job growth right now, whether AI is really to blame for young people struggling to land their first job,
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and how the unemployment rate for black workers could be a signal of what's to come.
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Edward Jones, member SIPC.
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We're looking at this month's jobs report.
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Why don't you kick us off, Adrian Maher?
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So like we said, May was a strong month for jobs.
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172,000 jobs added.
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And in fact, this latest report includes some revised estimates for the months of March and April.
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They were revised upwards as the BLS got more data.
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And between those two months, that means employers added 93,000 more jobs than was previously reported.
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And that's on top of what were already strong hiring numbers.
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All right, so we've got three months in a row of strong hiring.
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So maybe, perhaps, the labor market is starting to shake off this low hire, low fire sluggishness we've been seeing for a lot of the past year.
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That could be.
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And a couple more interesting notes from this report.
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It says most of the jobs added last month were in the leisure and hospitality sector, local government and health care.
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And the average hourly wage was $37.53 an hour.
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That is 3.4% higher than a year ago, but not quite enough to keep up with inflation, which recently clocked in at 3.8%.
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So this Shops report has made me think
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that it's going to be pretty unlikely
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that the Federal Reserve is going to decide to cut interest rates in the near future.
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I mean, this is a good point, right?
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Because as we know, President Trump has been jawboning the Fed to lower interest rates to try and juice the economy.
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But the job market is gaining steam and inflation, rising prices for gas, groceries and other things.
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That's really the growing concern right now.
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And the Fed cutting interest rates would just add to inflation.
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So in this environment, the case for an interest rate cut makes even less sense.
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And some economists might even see cause for a rate hike.
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Interesting environment for a new Fed chair to be stepping in.
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Thank you for that, Adrian.
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And now we're going to dive into some specific groups, Jerry and Woods.
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I was particularly interested in the unemployment rate for younger workers.
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Right.
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A lot of young people have just graduated from trade school or college, so this is going to be what they're obsessed with right now.
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And what their parents are probably going to be thinking about?
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Yeah, so those parents will be relieved because the jobs report showed
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that the unemployment rate of Americans aged 20 to 24 decreased a little to 7.2% in May.
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Now, historically, that's kind of average, but it doesn't include all of the people who think
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that the jobs market is so bad that they're just going to go back to school.
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Younger people have been feeling frustrated about the jobs market for a few years now.
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I mean, judging by the sort of viral clips of commencement speeches, you would think that this is all because of AI being the big villain here.
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Yeah, here's former Google CEO Eric Schmidt speaking at the University of Arizona.
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Time magazine selected its person of the year for 2025, and this time it was the architects of artificial intelligence.
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Interesting.
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So today we stand on this grid.
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Oh man, they're just, they're really not having it.
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They are not.
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And there has been a smattering of research over the last year supporting those boos.
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It says AI is to blame for low hiring rates for junior workers.
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Eric Schmidt should have pivoted and started just reading out those studies.
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He could have gotten the crowd back on his side.
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what he needed were two new studies which are casting doubt on the AI theory.
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They have accused another big force for the death of junior hires, remote work.
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Oh, okay, that's interesting.
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So this predates the whole AI boom.
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It does, but it's actually very similarly timed as people kind of figured out
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that remote work did have some friction in the gears of running a business.
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So the first paper from two economists in the UK looked at hundreds of millions of hires
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and jobs postings all across the US and other countries from 2017 to 2035.
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Now they couldn't find much evidence that AI was killing that many junior jobs, even in tech.
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But what they did find was that jobs
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that were more likely to have remote workers were less likely to hire people with limited experience.
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The second paper was from three economists in the US.
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In findings released this week, they conclude that nearly two-thirds of the recent rise in unemployment among young college graduates is because of remote work.
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So employers are basically telling Gen Z, like, no thanks, don't worry about applying.
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Gen Z need not apply.
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The idea is that onboarding is much harder in a remote work world,
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and so hiring managers are leaning towards getting people that already know the workplace basics.
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They know the on-the-job skills and how to communicate with others, being proactive, all that stuff that face-to-face makes easier.
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I do see that rationale.
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I also think that if you take the time now to train Gen Zers about how to do this kind of work,
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you know, there could be a payoff later that maybe employers aren't thinking of.
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Absolutely.
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And training seems to be easier face-to-face.
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Could you use AI? to train?
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Maybe AI is the savior.
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Let's revisit this in five years.
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Thank you, Darren, for that bit of insight into younger workers.
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Waylon, why don't you go next?
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Okay, I am here to talk about another area of concern that could potentially signal trouble for the broader labor market, and that is black workers.
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This is a group where their unemployment rate has historically been higher than the main number, and this was definitely the case in May.
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The jobless rate for black workers was 6.6% compared with 4.3% for all workers.
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That said, the 6.6% number is an improvement.
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It's down from April and it's the lowest rate in a year.
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So hopefully it keeps moving in that direction.
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Yeah.
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And black women in particular really felt the effects of the mass layoffs
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and buyouts we saw with the federal workforce last year.
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I read an analysis from the Economic Policy Institute.
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That's a think tank that advocates for low and middle income working families.
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And the EPI says that black women suffered the greatest job losses in 2025.
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Its analysis also shows that the overall net loss was driven entirely by cuts in public sector jobs.
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I wonder whether some of these federal workers finding new jobs might be why the black unemployment rate went down.
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Yeah, it's encouraging data.
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But, you know, if the black unemployment rate were to go back up, that could be a bad signal.
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There was some other research that caught my eye recently.
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It comes from Kevin Rins, an economist at the Cleveland Fed.
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And he determined that when the unemployment rate for black workers goes up, it tends to be followed by higher overall unemployment.
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Right.
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So that's what they call a leading indicator.
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Yeah.
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According to his analysis, if the black unemployment rate goes up one percentage point,
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you can expect the overall unemployment rate to go up about 0.2 percentage points in four to seven months.
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That's super interesting.
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We hear about recession indicators all the time.
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And this one And going back to basics, the unemployment rate for black workers seems like it has some empirical backing to it.
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Absolutely, yeah.
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Just back to basics.
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This episode was produced by Corey Bridges with engineering by Robert Rodriguez.
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It was fact checked by Sierra Juarez and Vito Emanuel.
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주요 어휘 및 구문
- 실업률 (unemployment rate) - 경제에서 일자리를 찾는 데 어려움을 겪는 사람들의 비율
- 고용 (employment) - 일자리를 갖고 있는 상태
- 직업 보고서 (jobs report) - 특정 기간 동안의 고용시장 관련 정보
- AI (인공지능) - 인간의 지능을 모방하는 기술
- 원격 근무 (remote work) - 사무실이 아닌 다른 장소에서 일하는 것
- 평균 시급 (average hourly wage) - 직원들이 받는 평균 급여
- 산업별 (by industry) - 특정 산업에서의 현황
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