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Job Market Stalls for Young Workers as ‘Job-Hugging’ Trend Emerges: bank of America
New research from Bank of America Global Research indicates a growing trend of employees remaining in their current positions, dubbed “job-hugging,” coupled with limited opportunities for young workers entering the workforce. The analysis points to economic uncertainty, the rise of artificial intelligence (AI), and a general decline in entry-level positions as contributing factors.
Bank of America Global Research
The bank estimates that approximately 289 million young people worldwide are currently neither employed nor engaged in educational or vocational training,hindering potential economic growth. This figure underscores a broader concern about the challenges facing the next generation of workers.
According to BofA’s analysis, the current economic climate is fostering a “job-
