Name: Sen. Warner: College grad joblessness problem could get worse
Uploaded: 2025-12-03T17:29:13.839Z
Duration: 2 min 53 s
Description: Democratic Senator Mark Warner of Virginia says without cooperation between companies and the government over AI job displacement, he fears a much deeper unemployment spiral for college graduates and widespread societal backlash from both the left and right.

Democratic Senator Mark Warner of Virginia says without cooperation between companies and the government over AI job displacement, he fears a much deeper unemployment spiral for college graduates and widespread societal backlash from both the left and right.

Senator Mark Warner has highlighted growing concerns about joblessness among recent college graduates, attributing much of the problem to the impact of artificial intelligence on the labor market. He notes that major employers, such as banks, are reducing internship and entry-level hiring, which could push the unemployment rate for recent graduates from the current 9% up to 25% if trends continue.

Warner, along with Senator Josh Hawley, has proposed collecting data on AI-related job losses to better understand and address the issue. He advocates for collaboration between government and the AI industry to design transition programs, warning that failure to act could result in significant social and political backlash.

Sen. Warner: College grad joblessness problem could get worse

You've got a proposal with Senator Josh Hawley that would require some data collection around the impact of AI job losses in America. So I guess two questions to start with you. One is how can you possibly count what an AI job loss is. And then secondly why do you want that data in the first place. One thanks for the opportunity to be here. And it's great to come after my friend Glenn Hutchins. I know he was talking about this subject. You're right. We've got to get a data set you both in terms of collecting you know AI job dislocation which is going to be hard. Let me acknowledge that. But I think we can get there. And I think what I'm frankly more worried about than the kind of you know some of the recent announcement on some of the big tech companies of 15000 job loss or 14000 here is the job dislocation that takes place in terms of jobs not being created in the first place. Right. Many of the big banks and others you know they've shared with me they're cutting their internship programs and half the cutting their first year hires in half. They intend to do that again the following year. So we're right now at 9 percent recent college graduate unemployment. I actually think that number could go to 25 percent if it hits that number. You're going to have not only all of those young folks pretty upset about not getting a job but you're going to have a lot of parents that are pissed off as well. Yeah especially with what I'm paying in terms of hundreds of thousands of dollars of college finance. And you know and I don't think we've got our arms around this. And you know as I prod my friends in the sector and others they say yeah it's a problem but we don't know the solution set. So we go way back in time. Yeah. Like four years ago we would have said well the answer is let's make everybody a coder. That was not the right solution set. So what I hope because my fear would be we could end up with kind of an anti innovation populism coming from both the left and the right is can we actually engage with the quote unquote A.I. industry to say rather than having government design some interim program because I think there will ultimately be a jobs created. But let's look at a five year interim where you help designers and help pay for it so that we get this transition right. I'm a big you know I think we'll be enormously adding to productivity. I think I think we can't even imagine all the tools around agentic guy. But there could be this huge disruption for three to five years. I'd love to see engage with the A.I. folks. Although as we talked who do you who is that. Is it the big banker accounting firm that uses the tool. Is it the platform. Is it the is it chip maker chip makers. So sorting that out is going to be I think one of the biggest policy issues literally. So when.

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