AI driving younger workers out of agencies

The ad industry appears to be shedding younger workers as artificial intelligence becomes a routine part of work at advertising agencies, reports Adweek.

Figures from the U.S. Census Bureau and the Bureau of Labor Statistics show employees aged 20-24 occupied 6.5% of all jobs in advertising, public relations, and other related services last year, the lowest since 2020.  (The chart above shows the U.S. unemployment rate by demographic.)

According to Adweek, “In 2019, just prior to the Covid-19 pandemic, the same demographic represented 10.5% of the advertising industry. Since 2022, however, the share of younger workers, including recent college graduates, has declined.

“The downward trend aligns with struggles young educated people are facing throughout the job market.

“In recent years, the unemployment rate among college graduates aged 22-27 has inched higher than jobless levels for all workers, according to the Federal Reserve Bank of New York.

“This is a new development: Young degree holders have consistently experienced lower unemployment than the general public going back to at least 1990, the earliest year the data is available.”