We did a blog rather recently on what it is like being a young person today.
One thing that we did not touch on in that blog, but we want to talk about today is the state of job stability in modern society as it pertains to the current generation of children and young adults presently making their way through our education systems and early life in the workforce.
Much like we articulated in a previous blog about life as a young person today, we understand that there is a definite degree of “doom and gloom” to a piece of content like this but we are hopeful that you can see through that to understand the value in discussing a topic like this in the interest of preparing you and your children for what is to come in their financial future.
Let’s get right into it.
The reality of job stability today is simply that it will no longer exist.
One of the primary reasons for this is the growing impact and influence of artificial intelligence and general technological advancements in our society.
As time progresses, a greater number of previously human-driven jobs are being made obsolete by technology and this is inherently compromising the stability of the general workforce today. In fact, according to one TIME magazine story, “one study estimates that about 400,000 jobs were lost to automation in U.S. factories from 1990 to 2007 [and] robots could replace as many as 2 million more workers in manufacturing alone by 2025”. This trend, should it continue as expected, could certainly spell disaster for the future job stability as our current generation of children and young adults grow older.
Furthermore, job stability is being even more profoundly impacted by the shifting reality that many more companies prefer to hire on a temporary, on-call, independent contract or freelance basis nowadays. As articulated by one 2016 article via Insider, research suggests that most if not all “net job growth in the last decade is in alternative work arrangements” that includes these types of work. Companies are often focused, if not primarily than definitely substantially nonetheless, on cutting costs to maximize profits and this truth has led to a boom in non-full-time employment that is removing previously standard levels of job stability in today’s workforces.
That’s it for this blog, folks.
Although this piece of content has reached its conclusion, we do not want to leave you to just ponder this piece of content and start worrying about what kind of future your child is headed for without any further help and guidance.
Beyond our twice-weekly blogs, Explorer Hop offers countless programs to help children of all ages prepare themselves for their financial futures. After all, our passion is youth financial literacy, and we feel very strongly about that goal.
If you’d like more content and guidance like this in the format of a world-renowned program taught by experts on financial subject matter of all kinds, check out the personal finance programs available on our website now.
Our programs in personal finance cover topics from the basics and history of money to the stock market and global finance for children in grades one all the way to twelve and we trust that these courses will be a great way for you to help your child get on a path to superior financial literacy from an early age.
Visit our website and sign your child up today!