Who should new grads boo more? AI or remote work?

The May jobs report showed the unemployment rate holding steady at 4.3 percent, with employers adding 172,000 jobs — the third consecutive month of solid hiring. But beneath that headline, the episode dug into two specific dynamics: whether remote work, not AI, is the real culprit behind young graduates struggling to find jobs, and why the unemployment rate for Black workers might be a leading indicator for the broader economy.

What the jobs report actually says

The Bureau of Labor Statistics report included upward revisions for March and April, adding 93,000 more jobs than previously reported across those two months. Most of May's hiring came from leisure and hospitality, local government, and healthcare. Average hourly wages hit $37.53, up 3.4 percent from a year ago — but that still trails inflation, which recently clocked in at 3.8 percent.

The hosts noted this makes a Federal Reserve interest rate cut unlikely in the near term. As Adrian Ma put it, "The case for an interest rate cut makes even less sense," and some economists might even see cause for a rate hike. The episode pointed out that President Trump has been publicly pushing the Fed to lower rates, but a strengthening job market combined with rising prices for gas and groceries works against that.

Why remote work, not AI, may be blocking young hires