Did ChatGPT *actually* destroy jobs? 🧐

And the company paying employees to hang out

December 12, 2023

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 1   How ChatGPT has impacted employment đŸ€–

ChatGPT

Happy Birthday, ChatGPT–3. November 30 marked the one-year anniversary of the generative AI tool that swept the internet by storm. Within five days of its release, ChatGPT attracted one million users, who consulted the tool on everything from cover letters to solving complex math equations and even relationship advice. ❀

But ChatGPT’s arrival wasn’t all rainbows and butterflies. As with any groundbreaking technology, its introduction raised concerns in the working world (i.e. mass layoffs and unemployment). Workers—from lawyers, to journalists, to software engineers—were fearful that they’d get laid off or replaced entirely by the chatbot. 

The question is: Did those predictions ring true? Is the job market as we know it kaput? While it’s still too early to judge ChatGPT’s full effects, mass job extinction hasn’t yet materialized: As of now, the US unemployment rate is chilling at a cool 3.7%. 

Still, certain roles—particularly roles that require writing and programming skills—are more at risk of elimination. And some are already feeling the sting: Upwork freelancers offering these skills (i.e. coding, copywriting, content creation) saw a 5% income drop since the chatbot’s release, per a recent study. 

The upside? ChatGPT has also created opportunities, such as: 

  • ➜ New Roles: As companies integrate AI, they’re hiring for experts who can oversee the technology. Enter new roles like AI content editors and prompt engineers. 

  • ➜ New Businesses: In 2024, OpenAI will launch its GPT Store, where anyone will be able to build and monetize their own chatbots. When AI apps have their own marketplace (like Apple’s App Store), AI entrepreneurs will become mainstream. New businesses = new job opportunities.

There’s no denying that AI will impact our working world (and eliminate certain jobs in the process). But it’ll also pave the way for entirely new career paths and opportunities. For now, our bet is still on humans. đŸ€

 2   Move over, Boomers: Gen Z is taking over the job market 🏃

More Zoomers. Fewer Boomers. The number of full-time Gen Z workers in the US is set to outnumber Baby Boomers by early 2024, according to a new report from Glassdoor Economic Research.  

This is a big deal. From the late 1970s until 2010s, Boomers were the largest generation in the full-time workforce. That’s 40 years of Boomer-driven trends, norms, and dynamics that are about to shift as Gen Z gets into the driver’s seat. 

  • Zoom In: Gen Z prefers employers who demonstrate social impact and offer the opportunity for mobility, creativity, and direct contribution. If their managers don’t provide feedback or development opportunities, 73% would say ciao to their jobs (Gen Z isn’t afraid of job-hopping, either). 

The Gen Z ripple effect: “That’s going to prompt a lot of soul searching at the executive level about the ways to retain and motivate
these youngest employees,” said Glassdoor chief economist Aaron Terrazas. One thing is for sure: This won’t be the job market your grandparents grew up in.

 3   This company is paying its employees to hang out đŸ‘„

Twenty/20

The Perfect Weekend: Exploring a new bookstore, grabbing a late-night dinner, and
hanging out with Jan from accounting? For Ethena employees, that very well might be their agenda: The remote-first compliance software company is reimbursing employees up to $100 a month to hang out with each other, per HR Brew. 

Ethena’s VP of people, Melanie Naranjo, said the idea came to her after realizing employees weren’t using the company’s office space. “If that money originally was supposed to go towards engagement, what’s another way we could invest in that engagement?”

  • Enter: IRL hangouts. The $100 can be used for anything from Broadway plays, to fancy dinners, to manicures and pedicures
as long as employees are hanging out together. 

And as for the office? Ethena first downsized—but after realizing that nobody was going in, they shut it down altogether. WFH: 1. RTO: 0. IRLHO (IRL hangouts)? TBD.

Would *you* want to get paid to hang out with co-workers?

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Welcome to the wild world of Data Science. 🌍 Here are a few fun facts you should know
 

  • ➜ The average Data Scientist salary in the US is around $124,000 a year. 

  • ➜ It was once dubbed the “Sexiest Job of the 21st Century” (yes, really). 

  • ➜ Even with AI around the corner, the industry shows no sign of slowing down: There will be 11.5 million data science jobs generated by 2026, per The US Bureau of Labor Statistics. 

It’s an industry with a lot of hype. But with buzz comes questions: Do you need a degree? What are the pros and cons? Is knowing how to code enough to land the job? 

In our video, we chat with data scientists who have all the answers. Plus, you’ll get the lowdown on 17 data science certifications that could be your ticket into the field. 👀

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Thanks for being here! FYI to those of you who are currently interviewing: In case you get hit with the dreaded “Why are you leaving your current position?” question, just reply with this
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See you next week! 

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