Automation, AI and societal economic changes are affecting the workforce and making a significant impact on the employment prospects of future generations.
More than one-third of today´s college graduates are “underemployed," meaning they work jobs that don´t require a college degree and may pay less than a living wage, according to data from the Federal Reserve Bank of New York.
At the same time, a World Economic Forum report explored how advances in AI are threatening to negatively impact access to entry-level and even mid-level jobs for millions of Americans.
Looking ahead, research by Georgetown University indicates that by 2031, 70% of jobs will require education or training beyond high school. However, data from the National Center for Education Statistics indicate only one-third of high school graduates go on to complete a college degree with many of those being in fields that are not in high-earning, high-growth professions.
These challenges are not lost on today´s students. In a survey by Junior Achievement and Citizens, 57% of teens reported AI has negatively impacted their career outlook, raising concerns about job replacement and the need for new skills. What´s more, a strong majority (87%) expect to earn extra income through side hustles, gig work or social media content creation.
"To put students on the path toward greater earning potential and economic mobility in a rapidly changing economy, students need proactive education and exposure to transferable skills and competencies, such as creative and critical thinking, financial literacy, problem-solving, collaboration and career planning," said Jack Harris, CEO, Junior Achievement.
This assertion is consistent with findings from the Camber Collective. This social impact consulting group identified four key life experiences students can consider and explore that positively affect lifetime earnings, including:
• Completing secondary education
• Graduating with a degree in a high-paying field of study
• Receiving mentorship during adolescence
• Obtaining a first full-time job with opportunity for advancement
Students aiming to equip themselves with the skills and experience necessary for the future workforce can seek:
• Learning opportunities that are designed with the future in mind. For example, learning experiences offered through Junior Achievement reflect the skills and competencies needed to promote economic mobility.
• Internships or apprenticeships that provide hands-on experience and exposure to a career field that can´t be found in a textbook.
• Volunteer or extracurricular roles that develop communication and leadership skills. Virtually every career field requires these soft skills for growth and greater earning potential.
• Relationships that provide insight and connection. Networking with individuals who are already excelling in a chosen field, as well as peers who share similar aspirations, offers perspective from those who are where you wish to be and potentially opens future doors for employment.
• Courses that offer introductory insight into a chosen career path. Local trade or technical schools and other training organizations may even offer certifications that align with a student´s area of interest.
To learn more about how students can pursue education for what´s next, visit JA.org.
