10% of workers are vulnerable to AI — and other happenings in the world of work

Welcome back to The Work Shift, a weekly newsletter that keeps you informed about the economy, labor market and evolving world of work through data-driven insights. Click subscribe to be notified of future editions.?

Catch up on headlines from the last 7 days.

• New data from the White House shows just how much AI automation is set to disrupt the American workforce. Read more about this below.
• The Federal Reserve held interest rates steady for the fifth consecutive meeting . The central bank also maintained its outlook for three interest-rate cuts this year and projected slightly stronger economic growth.
• Even still, Americans are feeling anxious about their finances. An annual Northwestern Mutual survey found that one-third of Americans feel financially insecure this year, up from 27% last year. That’s the highest figure since the survey began in 2012.
• Workers are quitting over pay transparency. With at least 10 states recently passing pay transparency laws, more companies are including salary ranges with job postings. A Payscale survey found that 14% of employees have moved into higher paying positions elsewhere after seeing such job postings.

• The college degrees with the highest earning potential are all in STEM, according to a new analysis from the New York Federal Reserve. Engineers, in particular, lead the pack, earning a median $79,000 following graduation, while those with a degree in the liberal arts are looking at a median salary of closer to $38,000.
• March Madness is underway and more Americans than ever are expected to bet on basketball games, the Associated Press reported . That’s because sports gambling is now legal in 38 states. The American Gaming Association expects $2.7 billion in bets.

Take a closer look at recent trending topics — and engage with meaningful conversations happening on LinkedIn.

AI advancements are already putting jobs at risk

• About 10% of jobs in the U.S. face the greatest risk of disruption due to artificial intelligence advancements, according to the annual Economic Report of the President . The White House’s report found that the “most significant AI exposure levels correspond to occupations in the lower-middle portion of the earnings distribution,” meaning wider adoption of AI could exacerbate income inequality.?
• A separate analysis of U.S. labor data found that the information technology job market in the U.S. could shrink by as many as 30,000 jobs by the end of 2024, even though roles that focus on AI and data science are still growing. Experts say this is both because workers may lack increasingly necessary AI skills and because AI is able to automate some entry-level IT tasks.
• Younger workers looking to future-proof their careers are increasingly picking up hard tech skills, LinkedIn data shows . This includes programming languages such as C++, MATLAB and Java and software tools like Canva and SOLIDWORKS. Separate research shows these workers are best positioned to utilize generative AI to streamline their workflow — potentially working 56% faster. “The greatest threat to your job isn’t AI itself,” IT professional Cory Milliken shared . “It’s being replaced by someone that knows how to use AI better than you.”

These workers are most eager to leave their jobs

• One in six U.S. workers say they plan to leave their jobs this year, according to LinkedIn’s latest Workforce Confidence survey . Workers in the South and Southeast are most likely to consider a switch. Orlando, Fla., San Antonio and Charlotte, N.C. top the list, with nearly a quarter of professionals looking for new work. Meanwhile, workers in the Midwest are looking to stay in their current roles.?
• Sentiments also vary by job function : Real estate and business development professionals are most likely to want to stay in their current roles; military services and project management have the lowest share of workers looking to stay put. Amid concerns of slow wage growth, high costs of living and high-profile layoffs, it’s no surprise that some Americans are weighing their next career move carefully.
• “What I'm seeing is a change in mindset for workers,” career coach Margaret Ricci commented . “Everything depends upon if workers feel ‘seen’ in their current role and also what they see coming up as factors to stay. Is there something exciting in the offing in either the direction of their organization or in the business climate? They will stay if they sense the ‘yes,’” she continued. “But more than this is the return to each person's talents and convictions that what they do, matters.”

Younger workers are rising into management quickly

• Gen Z, in particular, embodies what Ricci was describing as the current worker sentiment even though they only make up 16.8% of the total workforce . Recent research from Deloitte found that Gen Z workers are more likely to value empathy than their older peers.
• This means they’re potentially paving the way for a more inclusive workplace as they’re climbing the corporate ladder faster. A separate report from the ADP Research Institute found that in 2023, employers promoted Gen Z workers into management roles 1.2 times faster than in 2019. Direct reports of these younger managers say their leadership style is less hierarchical, more informal and more likely to center mental health.?
• Healthcare leader Paloumi Patel noted Gen Z’s growing impact on the workforce should be welcomed. “I’m fascinated by the ways in which different generations are challenging societal norms,” she shared . From baby boomers pushing off retirement or pivoting careers later in life to Gen Z “challenging us to rethink how we approach problems and systems,” she continued, “there’s so much we can learn from each other in this ever-changing world.”

Get ready for the week by seeing what’s coming up.

Monday, March 25:

• The U.S. Census Bureau will release the number of new building permits issued by the government and new home sales in February, which are key housing market indicators.

Tuesday, March 26:

• The Census Bureau will release its monthly report on durable goods orders, which measures manufacturing activity.?
• The Conference Board will release its monthly Consumer Confidence Survey, which measures how optimistic Americans are about the economy.

Thursday, March 28:

• The U.S. Department of Labor will release initial jobless claims for the previous week. The report, a proxy for layoffs, tracks the number of people filing for unemployment benefits.
• The Bureau of Economic Analysis will release a gross domestic product reading for the fourth quarter.
• The University of Michigan will release its reading of March’s Consumer Sentiment Index, which measures how Americans feel about current and future economic conditions.

Friday, March 29:

• The U.S. Department of Commerce will release February’s Personal Consumption Expenditure Price Index — the Fed’s preferred inflation measure. The report measures changes in the price of goods and services, excluding food and energy.