U.S. Work World News Briefs - September  2018
Gen Z Enters the Work World
 
Gen Z was born between 1995 and 2015. Gen Z population is nearly 74 million in the U.S. and are between 3-23 years old. Gen Z is highest user of smartphones with 41% spending 3 hours a day online. Gen Z prefers to shop and bank by smartphone. Gen Z grew up during the Financial Crisis of 2008, economic turmoil, and internet availability. Oldest Gen Z were 10 when iPhone launched in 2007 -- and most have never seen a floppy disk. Gen Z are called the first true digital "natives."

What makes Gen Z different than previous generation of Millennials (now 24-38 years old)?  Gen Z sees Millennials struggle with debt, especially student loan debt, and Gen Z is not following the Millennials.  About 66% of Millennials owe at least $10,000 in student debt.  Only 11% of Gen Z plan to take on debt for college.

As Gen Z enters the workforce, employers see that Gen Z wants job stability as a priority in contrast to job-hopping Millennials.  Gen Z has strong preference for technology and health-care jobs -- good choices for job security as employers face talent/skills shortages.  

Indeed.com discovered that Gen Z job seekers show high interest in two unusual jobs -- bookseller (going back to paper books?) and gamemasters. First "escape rooms" opened in Japan in 2007, and arrived in the U.S. in 2012. This is a new job for a new generation maybe tired of movies. In escape rooms, 12 people (who pay about $20 each) are briefed with a story by gamemaster -- and try to solve mysteries -- after locked in a room with items for clues within a time limit.

Gen Z values educational achievement and seek out mentors on the job. Gen Z also values empowering work culture and companies that promote equality.

Indeed.com reports that the 3 most searched job openings for Gen Z job seekers are: iOS developer, Computer Vision Engineer, and Machine Learning Engineer.

Emerging Trends in Artificial Intelligence

Industrial Revolution (1760-1840) changed the way people worked when factories increased efficiency of tasks like weaving cotton that had been done by hand.

Artificial intelligence (AI) is ready to be the next revolution to change the work world. AI technology is actually imitating human thinking by "learning" through recogninzing patters and drawing on past experiences. AI can now identify objects, understand speech, translate languages, recognize faces, and analyze emotional sentiments. With these abilities, AI is preparing to replace jobs currently done by humans.

Employer demand for job seekers with AI skills grew 200% between 2015 and 2018. During this same time, job seekers searching for AI job openings increase by 182%.

Here are top 10 job involving AI skills -- Note the new job titles:
  • Machine Learning Engineer -- $134,449
  • Data Scientist -- $130,503
  • Computer Vision Engineer -- $134,346
  • Algorithim Engineer -- $104,112
  • Principal Scientist -- $138,271
  • Computer Scientist -- $97,850
  • Research Engineer -- $71,600
  • Statistician -- $83,731
  • Director of Analytics -- $140,837
  • Data Engineer -- $125,999

Studies in U.S. and U.K. suggest that AI will create more jobs than it replaces. AI is taking on some of the most hazardous jobs such as cleaning nuclear facilities, assisting firefighters in locating fires, and scraping sewers.

The average salary for person with bachelor degree is $60,996.
From: Indeed.com blog

What Jobs Are Safe From Artificial Intelligence?

Will robots take over all jobs? Experts predict that jobs safe from artificial intelligence take-over are:

JOBS INVOLVING CREATIVITY
Artists, inventing scientists, business strategists, designers, actors, musicians, athletes, hair stylists, decorators, bloggers, personal shoppers.

JOBS INVOLVING RELATIONSHIPS
Nurses, social workers, counselors, psychologists, medical technologists, child and elder care, teachers, mangers and supervisors, therapists, entrepreneurs, meeting planners, financial planners, lawyers, sales representatives.

JOBS INVOLVING THE UNPREDICTABLE (Install, Repair, Fix)
Plumbers, carpenters, brick masons, computer technician, electricians, landscapers, appliance repair, security system workers, financial analyst.  

New Lessons in U.S. Work World
  • Your Money: Auto Loans
  • Your Money: Auto Insurance
  • Your Money: Credit Cards
  • Your Money: Debit Cards
  • Your Money: Mobile Wallets
  • Your Money: Problems
  • Workers' Compensation Insurance
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