If you speak to recent college graduates, you’ll hear a common refrain: Getting a job is really tough, especially the type of job they imagined getting when they started university four years ago. A key culprit: artificial intelligence (AI). This new technology is quickly disrupting the workforce, and young professionals are suffering the consequences, especially at technology companies.
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Despite a generally positive economic outlook, many Americans are feeling the pinch in their wallets every time they fill up their tank, buy groceries, or pay their rent. The reality is that maintaining financial stability is a pressing problem for many Americans. Yet the numbers tell a different story. The difference between how people feel about their financial wellness and what the numbers say they should feel about their income and expenses depends on who you ask.
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Inflation regularly increases the prices of goods, services, and resources, making the cost of living less affordable with a dollar that does not keep up with that growth. The Bureau of Labor Statistics clocked the 12-month inflation rate from the end of 2022 to the end of 2023 at 3.35%. Meanwhile, household income estimates shifted a median of 4.22%, but swung as much as multiples above or below that—depending on the city—offsetting or exacerbating the impacts of price changes.
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On-the-job training for managers dropped substantially over the past five years, with major repercussions for their employees and organizations. In 2023, managers received an average of 50 days of on-the-job training, down from about 68 days in 2018, Bureau of Labor Statistics data shows. While they still receive about 19 more training days than is typical across all U.S. jobs, this decline could spell trouble for companies.
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