Kerre Woodham: Recessions are toughest on our youngsters

Now in any recession, it's the young ones who are going to find it hardest to get jobs, and this recession is no different. Student Job Search says many students and graduates are really struggling to find jobs, part time, full time, which means they're also finding it tough to pay the rent and to put food on the table. And just looking at the story, it seems that many young people who've followed their passions are finding it the most difficult to get work. They've taken out student loans to get degrees in fields like screen production or radio, or they've done a Bachelor of Communications and then they're finding that the jobs simply aren't there, not for entry level.

Or there are fears that the jobs for which the young people have qualified, taken out the student loans, worked their way through and qualified, simply won't exist in the future. Dario Amodei, the CEO of Anthropic, has warned that up to half of white collar work could be automated by 2030 In this country, MB warns that young people may struggle to get onto the employment ladder as an increasing amount of entry level work is automated. The unemployment rate among New Zealand's 15 to 24 year olds currently sits at around 15% triple that of the working age population.  These are young people who are looking for work. They weren't faffing around just taking a dole or a youth allowance. These are young people who want work and the unemployment rate is around 15%

Research from the AI Forum in this country earlier this year showed that 45% of businesses were planning to lower their headcount due to implementing AI. So not only are they struggling to find jobs in the field that they've studied and they've graduated in, there's real concern that they're not going to get a job in 10 years from now, that job simply won't be there. There was a review of a number of go get em tiger type books in The Economist this week  under the heading "Traditional career advice is failing Gen Z".

Two of the books have authors who tell their readers to get out there and find a career you love, to follow your passion, nothing will make you more successful than loving what you do for a living. But the third author took the opposite approach and I think it's probably the more sensible one. He says get good at something that helps others and the passion will follow. His argument is that if you're good at your job, you'll have more leverage to do enjoyable work than if you pursue a passion and you're mediocre. Don't go for the big bucks, he cites the happiness paradox where once basic comfort and security are met, extra income yields much smaller gains in daily emotional well being. Just being wealthy isn't going to make you happy. You get to a certain tipping point where you can pay all your bills on time, have a little bit set aside for disposable income, a holiday once a year perhaps, that'll do you. Anything beyond that and it's not really worth it. He says do something where you feel valued and where your skills are in demand. Do that rather than follow your dream of becoming a professional YouTuber or a cinematographer or what have you.

I have been very, very lucky to begin a job at 17 that I have loved, and I've pretty much done it on and off since I was 17 working in the media. Being a television presenter, being a radio journalist, being a writer, being a columnist, loved it. Apart from two years of COVID, but we don't need to go into that right now, not today. Absolutely loved it and feel very, very lucky to have done so. But what is your advice to your young people? Or if you are a young person who has recently graduated, how did you decide what to do? How difficult has it been trying to find a job? I mean 15% unemployment among the 15 to 24 year olds. That's a lot of young kids that are knocking on doors willing to do anything, and they are. These aren't lazy kids. They're willing to do damn near anything. They've given up working in screen production or radio or public relations, they just want a job. What's your advice? Do a bit of research and find out what jobs might be AI proof, service jobs, or do you still think it's important to tell kids to follow their passion?

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:06):
You're listening to the Carrywood and Morning's podcast from news Talks,
he'd be now.

Speaker 2 (00:12):
In any recession, it's the young ones who are going
to find it hardest to get jobs, and this recession
is no different. Student Job Search says many students and
graduates are really struggling to find jobs part time full time,
which means they're also finding it tough to pay the

(00:32):
rent and to put food on the table. And just
looking at the story, it seems that many young people
who followed their passions are finding it the most difficult
to get work. They've taken out student loans to get
degrees in fields like screen production or radio, or they've
done a Bachelor of communications, and then they're finding that

(00:53):
the jobs simply aren't there, not for entry level or
their affairs. That the jobs for which the young people
have qualify taking up the student loans, work their way
through and qualified simply won't exist in the future. Dario Emodi,

(01:15):
the CEO of Anthropic, has warned that up to half
of white collar work could be automated by twenty thirty
in this country. Mby warns that young people may struggle
to get onto the employment ladder as an increasing amount
of entry level work is automated. The unemployment rate among

(01:36):
New Zealand's fifteen to twenty four year olds currently sits
at around fifteen percent, triple that of the working age population.
So these are young people who were looking for work.
They went spanning around just taking a doll or a

(01:57):
youth allowance. These are young people who want work and
the unemployment rate is around fifteen percent. Research from the
AI Forum in this country earlier this year showed that
forty five percent of businesses were planning to lower their
head count due to implementing AI. So not only are

(02:19):
they struggling to find jobs in the field that they've
studied and they've graduated in, there's real concern that they're
not going to get a job and ten years from
now that job simply won't be there. There was a
review of a number of go get them tiger type
books and the Economists this week. You know those ones

(02:40):
that you pick up and you'll save a fortune, and
you'll stop smoking, and you'll lose weight and you'll become
a phenomenal success at whatever it is you decide to do.
And so there was a review of those types of
books and the Economists this week under the heading traditional
career advice is failing gen Z. Two of the books

(03:02):
have authors who tell their readers to get out there
and find a career, love to follow your passion. Nothing
will make you more successful than loving what you do
for a living. But the third author took the opposite approach,
and I think it's probably the more sensible one. He says,
get good at something that help others, and the passion

(03:23):
will follow. His argument is that if you're good at
your job, you'll have more leverage to do enjoyable work
than if you pursue a passion in your mediocre don't
go for the big bucks. He cites the happiness paradox,
where once basic comfort and security are met, extra income

(03:45):
yields much smaller gains and daily emotional well being. Just
being wealthy isn't going to make you happy. You get
to a certain tipping point where you can pay all
your bills on time, have a little bit set aside
for disposable income, a holiday once a year, Perhaps that'll
do you. Anything beyond that, and it's not really worth it.

(04:07):
He says, do something where you feel valued and where
your skills are in demand. Do that rather than follow
your dream of becoming a professional YouTuber or a cinematographer
or whatever you I have been very, very lucky to
begin a job at seventeen that I have loved, and

(04:30):
I've pretty much done it on and off since I
was seventeen, working in the media, being a television presenter,
being a radio journalist, being a writer, being a columnist.
Loved it apart from two years of COVID, but we
don't need to go into that right now, not today.
Absolutely loved it and feel very very lucky to have
done so. But what is your advice to your young

(04:53):
people or if you are a young person who has
recently graduated, how did you decide what to do? How
difficult has it been trying to find a job? I
mean fifteen percent unemployment among the fifteen to twenty four
year olds. That's a lot of young kids that are

(05:13):
knocking on doors willing to do anything, and they are
These aren't lazy kids. They're willing to do damn near anything.
They've given up working in screen production or radio or
public relations. They just want a job. So what's your advice?

(05:34):
Do have better research and find out what jobs might
be AI proof service jobs, or do you still think
it's important to tell kids to follow their passion.

Speaker 1 (05:46):
For more from carry Wood and Mornings, listen live to
news talks at be from nine am weekdays, or follow
the podcast on iHeartRadio