Remote work may be locking younger workers out of labor force: NY Fed
Summary
The New York Federal Reserve Bank reported that rising unemployment among young college graduates may be linked to the increase in remote work since 2020. The bank used census data to show a 20% rise in joblessness for workers under 29 years old.Key Facts
- Youth unemployment rates have increased since the 2020 pandemic.
- The New York Federal Reserve Bank analyzed this trend.
- Remote work has become more common since 2020.
- Census data shows a 20% increase in unemployment for college graduates under 29.
- The increase in joblessness may be connected to remote work opportunities.
- The report was published on a Monday by the regional Fed bank.
- Younger workers may be having more difficulty entering the labor force because of these changes.
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