The belief that effort alone can secure a stable future is fading as artificial intelligence is reshaping the way Gen Z enters the work and housing markets.
That change is already visible, JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon told Recently CNN He said that previous generations could build stable lives through continued labor even without advanced education, but today’s workers face different circumstances, from rising costs of living to rapid changes driven by technology.
“When you graduate, whether it’s high school, community college or college, you need the skills to get a job,” Dimon said.
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“It’s no longer enough to say, ‘I can work hard.’ In the old days, you could be in the 10th grade, get a factory (job) in Detroit, and eventually you could buy a family, a house, a car, and that may not be true anymore.”
The housing market offers one of the strongest signs of change. The National Association of Realtors Housing Affordability Index, a measure of housing affordability, fell to 97.4 in the second quarter, according to the trade group, indicating the typical household can no longer earn enough to qualify for a mortgage on a median-priced home.
Cost pressures extend beyond housing. According to the Federal Reserve Bank of St. Louis, the cost of tuition, school fees and child care in average U.S. cities rose from an index level of 100 in 1983 to 897 by September.
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Dimon said these conditions make technical skills more valuable than in earlier decades. AI and coding are areas “we know we need skills in,” he said, adding that industry training courses offer fast, accessible pathways to stable jobs.
Twenty-four percent of workers aged 18 to 34 are “very concerned” that AI will replace their jobs within the next two years, according to research published by Deutsche Bank in September, while only 10% of workers aged 55 and older reported the same level of concern.
Government estimates reflect a shift towards specialized roles. The U.S. Bureau of Labor Statistics estimates that employment of wind turbine service technicians will increase by approximately 50% from 2024 to 2034, with an average annual wage of approximately $62,580, and entry typically requires a postsecondary certificate rather than a four-year degree.
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