Junior Achievement - Education For What's Next

THE “FUTURE OF WORK” IS HERE

For more than a decade, there have been discussions about the need to prepare young people for the “Future of Work,” taking into consideration the impact of automation, AI, and societal changes on
the employment prospects of the next generation. With the explosive growth of Generative AI in recent years, it’s apparent that the Future of Work is here, with some jobs already being eliminated due to the growing influence of these technologies. In fact, in its 2025 Future of Jobs Report, The World Economic Forum predicts 39 percent of current skillsets will be outdated in five years due to advances in AI.

THE IMPACT ON ECONOMIC MOBILITY AND GENERATIONAL OUTCOMES

Such advances in technology can have an adverse impact on the economic mobility of those
unprepared for these changes. In fact, in recent decades the economic mobility of Americans –
the ability to do as well or better than previous generations – has declined 45 percent, according
to the Brookings Institution, due, in part, to previous technological innovations, like automation
and information systems.

The decline in mobility can be linked to the growing impact of technology and globalization on earning potential. There was a time up until the early 1980s when a high school education was enough to
sustain a quality standard of living in the U.S. Today, though, even a college education might not be enough as more than a third of college graduates are “underemployed,” meaning they work in jobs that don’t require a college degree, and that may also pay less than a living wage. Recent advances in AI are threatening to negatively impact access to entry-level and even mid-level jobs for millions of Americans, contributing to downward pressure on economic mobility for this and future generations.

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JA Education For What's Next