Derek Thompson
speaker
34 appearances
2 recordings
1 series
first heard Apr 2025
last heard May 2025
Derek Thompson’s voice in public audio — every appearance, attributed to the second.
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Appearances
But one thing that I've been looking at is the unemployment rate for new college graduates, which I've read from a bunch of different indicators seems to be weakening.
The New York Federal Reserve keeps a pretty steady survey on the unemployment rate for recent college grads and found that it recently spiked to about six percent, its highest in a long time.
And what we're seeing is just what the article that I wrote about in The Atlantic was really focused on is this disconnect where recent grads are doing significantly worse than the overall job market rather than like 10, 15 years ago, doing significantly better.
Something weird has happened in the job market for recent grads.
It might have to do with the fact that a lot of companies are just freaked out about the tariffs and they're like, I'm not going to hire young people because that's an expensive investment in the long term.
It could be just a couple weird thing compiling in the economy, like the long-term decline of the college wage premium and a little bit of uncertainty about the future.
But it also could be, and this was the last theory that I had in the piece, I look at generative AI, I think this is an incredibly powerful tool.
It is very good at reading, at synthesizing,
at putting together reports at giving you 10,000, 15,000 word documents with deep research to tell you all about a certain industry.
It's good at doing a lot of the things that we frankly ask of 22 to 25 year old recent college graduates.
Just ignore the sky is falling reports in the regime press.
Tune out the breathless reporting about market gyrations.
been listening the last 10 minutes of this show, I cannot believe what I'm listening to.
I heard your last guest say, if the economy shrinks, that's good.
If the stock market goes down, that's good.
If the housing market crashes, that's good.
If there's a trade war, that's good.
When did the capital class get taken over by de-growther protectionists seeking 19th century autarky?
No, they're crashing the economy.
That's very, very different than making housing affordable.
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