Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, recently appeared on WCCO Radio to discuss current economic indicators, particularly focusing on unemployment trends and the broader challenges within the job market. He highlighted that the number of long-term unemployed individuals in Minnesota has nearly doubled compared to the previous year, now exceeding 21,000 people.
Schipper explained that the present labor environment shows limited movement, meaning workers who are currently employed are not being laid off at high rates, but it remains difficult for job seekers to enter new roles. This stagnation reflects a lack of dynamism in hiring and workforce transitions.
He noted that even college graduates are facing greater difficulty securing employment than in prior years, a shift attributed in part to the growing influence of artificial intelligence on hiring practices and workplace demands. Additionally, the scarcity of entry-level positions further compounds the challenge, leaving many qualified individuals unable to gain a foothold in their chosen fields.
“If you’re employed, consider yourself fortunate,” Schipper remarked, emphasizing the uneven landscape faced by job seekers today.
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In the News: Tyler Schipper on Economic Data and Unemployment – Newsroom
Tyler Schipper, economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, spoke on WCCO Radio about the effects of the government shutdown regarding unemployment rates and the struggling job market. n nHost: It’s sort of a staggering number of people when you look at the United States and here in Minnesota. The “long-term unemployed,” they call it, the state measure. They say it nearly doubled since last year. More than 21,000 folks. I guess if you have a job, keep it, right? n nSchipper: The takeaway right now is this is a reflection of a labor market that’s not very dynamic. With people who have jobs, we’re not seeing a lot of firing, but it’s also really hard to break into a new job. And so if you have a job, you can thank your lucky stars. n nIf you’re struggling to find one, know that you’re not alone in that. There are a lot of people who are struggling to find that next job, and there have been some changes in who those people are as well. College graduates are much more likely than in the past to be struggling to find a job, and that’s probably AI affects. Plus the fact that there are not a lot of entry-level jobs open right now because of that lack of dynamism in the labor market.