Drop in degree based entry level roles

The Financial Times just investigated the question of whether AI is killing graduate jobs. Job postings for entry-level roles requiring a degree have declined by almost two-thirds in the UK since 2022 –the year ChatGPT launched– twice as much as for all entry level roles, according to job search engine Adzuna. In the US, such listings are down 43% over the same period.⁠

TLDR: grad jobs are down, but probably not because of AI, yet. 

A more likely explanation is more complex. Factors including economic uncertainty and offshoring may be more responsible, with technology driven shifts in the mix.

 

Jobless rate of college grads and non-college Source: Financial Times 

 

Meanwhile some startups are marketing tech products based on their credentials beating entry level tasks – in this case analysts.

 

Although initially companies may reduce the headcount for entry level roles due to intelligent tech reducing the amount of cumbersome work they would conventionally be tasked with, these positions play an essential role in the talent pipeline. If no one is developing their skills and experiences in entry level roles, then there won’t be a next generation of highly skilled individuals and leaders to emerge to do the remaining work that can’t be automated or outsourced (to novel technologies or international labour markets). 

As said by The Guardian’s tech editor Blake Montgomery:

“The likeliest outcome of AI’s impact on entry-level jobs is that companies will reformulate them into something new... Familiarity with AI will be required in the way that Microsoft Office has, and bosses will demand a higher standard of productivity.”

 

Sources 

"Is AI killing graduate jobs?" Financial Times 

"Will AI wipe out the first rung of the career ladder?" The Guardian