{"id":97069,"date":"2025-10-18T12:39:27","date_gmt":"2025-10-18T16:39:27","guid":{"rendered":"https:\/\/danielschristian.com\/learning-ecosystems\/?p=97069"},"modified":"2025-10-18T12:41:43","modified_gmt":"2025-10-18T16:41:43","slug":"goldman-economists-on-the-gen-z-hiring-nightmare-jobless-growth-is-probably-the-new-normal-lichtenberg","status":"publish","type":"post","link":"http:\/\/danielschristian.com\/learning-ecosystems\/2025\/10\/18\/goldman-economists-on-the-gen-z-hiring-nightmare-jobless-growth-is-probably-the-new-normal-lichtenberg\/","title":{"rendered":"Goldman economists on the Gen Z hiring nightmare: \u2018Jobless growth\u2019 is probably the new normal [Lichtenberg]"},"content":{"rendered":"<p><a href=\"https:\/\/fortune.com\/2025\/10\/14\/goldman-economists-gen-z-hiring-nightmare-low-fire-hire-jobless-growth-normal\/\" target=\"_blank\" rel=\"noopener\"><strong>Goldman economists on the Gen Z hiring nightmare: \u2018Jobless growth\u2019 is probably the new normal<\/strong> <\/a>&#8212; from fortune.com by Nick Lichtenberg <em><span style=\"color: #800000;\">(this article is behind a paywall)<\/span><\/em><\/p>\n<p style=\"padding-left: 40px;\">The challenging U.S. labor market is entering a new normal, according to Goldman Sachs economists David Mericle and Pierfrancesco Mei, who tackled the phenomenon of \u201cjobless growth\u201d in an Oct. 13 note. It resonates with what Federal Reserve Chair Jerome Powell memorably described in September as a <span style=\"color: #800000;\"><strong>\u201clow-hire, low-fire\u201d<\/strong><\/span> labor market, in which, for some reason, <strong><span style=\"color: #800000;\">\u201ckids coming out of college and younger people, minorities, are having a hard time finding jobs.\u201d<\/span><\/strong><\/p>\n<p style=\"padding-left: 40px;\">Some analysts blame the downturn in entry-level hiring on\u00a0the impact of AI on the economy, others on macroeconomic uncertainty, especially the\u00a0seesawing tariffs regime\u00a0from the Trump administration. The takeaway is clear, though, that\u00a0getting hired is really hard\u00a0in the mid-2020s.<\/p>\n<blockquote><p><span style=\"color: #ff6600;\"><strong>This shift is clear in data collated by the investment bank. Payroll growth by industry shows almost all sectors outside health care posting weak, zero, or even negative net job creation, despite otherwise solid macroeconomic indicators. Meanwhile, the share of executives who mention both AI and employment in the same context on earnings calls has reached historic highs.?<br \/>\n&#8230;<br \/>\nFor now, Mericle\u2019s \u201clow-hire, low-fire\u201d diagnosis serves as both warning and guide: Jobless growth may not mean mass layoffs, but it does mean fewer opportunities for job seekers and slower rebounds from economic shocks in the years to come.?<br \/>\n<\/strong><\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Goldman economists on the Gen Z hiring nightmare: \u2018Jobless growth\u2019 is probably the new normal &#8212; from fortune.com by Nick Lichtenberg (this article is behind a paywall) The challenging U.S. labor market is entering a new normal, according to Goldman Sachs economists David Mericle and Pierfrancesco Mei, who tackled the phenomenon of \u201cjobless growth\u201d in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[174,306,35,178,285,560,66,321,299,445],"tags":[],"class_list":["post-97069","post","type-post","status-publish","format-standard","hentry","category-career-development","category-economics","category-game-changing-environment","category-generational-differences","category-legislation-legislatures","category-parents-guardians","category-student-related","category-united-states","category-workplace","category-youth"],"_links":{"self":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/97069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=97069"}],"version-history":[{"count":2,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/97069\/revisions"}],"predecessor-version":[{"id":97071,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/97069\/revisions\/97071"}],"wp:attachment":[{"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=97069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=97069"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=97069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}