Rakesh Kochhar’s Post

With artificial intelligence seeming to be everywhere, my new report for Pew Research Center takes on the question of which U.S. workers face more exposure to AI on their jobs. I find that, in 2022, 19% of workers overall were in jobs that are the most exposed to AI, in which the most important activities may be either replaced or assisted by AI. A greater share of workers (23%) were in jobs that are the least exposed to AI. I also find that women have a higher level of exposure than men, Asian and White workers are more exposed than Black and Hispanic workers, and workers with a bachelor’s degree or more are more than twice as likely as those with a high school diploma only to see the most exposure. Jobs with a high level of exposure to AI tend to be higher paying and in which analytical skills can be a plus. In 2022, workers in the most exposed jobs earned $33 per hour, on average, compared with $20 in jobs with the least exposure. Interestingly, an accompanying Pew Research Center survey finds that many U.S. workers in more exposed industries – such as 32% of workers in information and technology – say that AI will help more than hurt them personally. Are you using AI at your job? Do you think it poses a threat to your job or to the U.S. economy overall? Or will AI be more helpful? #AI #AIandjobs #employment See more at Pew Research Center's site: https://pewrsr.ch/3q9JKTd

My new report shows that progress in closing the gender pay gap largely came to a halt about two decades ago. In 2022, women earned 82% as much as men, compared with 80% in 2002. Parenthood has a notable impact on the pay gap as women age. Although women with children at home earn about the same as women with no children at home, fathers earn more than both groups of women and more than other men, a phenomenon known as the “fatherhood wage premium.” Thus, while women start their careers close to parity with men, the pay gap widens noticeably between the ages of 35 and 44. Relatedly, my colleague Carolina Aragão, PhD finds that 67% of women with children at home report feeling a great deal of pressure to focus on their responsibilities at home, compared with 45% of working dads. Women are also much more likely than men (61% vs. 37%) to say a major reason for the pay gap is that employers treat women differently. Are you juggling work and family needs? Do you feel women are treated differently by employers? In your view, why does the pay gap persist? #paygap #workingparents #earnings See more at Pew Research Center's site: https://pewrsr.ch/3Za6lLv

In a new report, my colleagues Kim Parker, Ruth Igielnik and I find that the majority (60%) of workers switching jobs are seeing it pay off in higher earnings, even after adjusting for inflation. But fewer than half (47%) of workers who remained with the same employer saw an increase in real earnings. Currently, 2.5% of workers – about 4 million – are switching jobs in an average month. Looking ahead, 22% of workers say they are very or somewhat likely to look for a new job in the next six months. Those who feel less secure in their job or about their personal finances are more likely to say this. Not all workers who leave a job one month, voluntarily or involuntarily, are at work the next month. Most are either unemployed or have, at least temporarily, left the labor force. Women who leave a job are more likely than men who leave a job to take a break from the labor force, and men with children at home are least likely to do the same. Did you change jobs in the past year? Did that pay off? #greatresignation #jobchange #earnings See more at Pew Research Center: https://pewrsr.ch/3cJX9KE

My colleague Stella Sechopoulos and I released a report today that examines how the American middle class and families in lower- and upper-income tiers were affected by the financial fallout from the COVID-19 recession. We find that while lower- and middle-income households experienced a significant negative shock to their incomes in 2020 upper-income households were largely unaffected. Unemployment was widespread among lower-income adults, with nearly three-in-ten seeing a spell of unemployment in 2020 and unemployment benefits were a key source of income for many. Despite the economic pressures, the shares of adults living in lower-, middle- and upper-income households did not change in the first year of the pandemic. But, keeping with recent trends, who lived in which tier did change, with about one-in-three middle-income adults moving out of the stratum from 2020 to 2021, to either the lower- or upper-income tier in equal measure. Do these broad trends relate to your experiences in the COVID-19 recession? See more of our findings at Pew Research Center's site: https://pewrsr.ch/3uW5ly7. Are you in the American middle class? Find out with our income calculator http://pewrsr.ch/1T5MEP9.  #middleclass #income #inequality #COVID #recession

In a new analysis, Jesse Bennett and I show that the median earnings of employed workers were largely unaffected by the COVID-19 recession, despite the severity of the shock it delivered to the U.S. labor market. Inequality in earnings did rise during last year’s recession, if the unemployed are assumed to have had no compensation. Even so, the spike was relatively short-lived, in keeping with the record low duration of the recession. Earnings overall have held steady through the pandemic in part because lower-wage workers experienced steeper job losses. Thus, the typical employed worker in 2020 earned more than the typical employed worker in 2019. A slowdown in inflation in 2020 benefited all workers, boosting the purchasing power of their earnings. While unemployed workers lost their earnings, at least some relief came through unemployment insurance, the CARES Act and a moratorium on residential evictions. But many of the unemployed have been without work for six months or longer and evidence shows that these workers are likely to experience a loss in earnings as they find new jobs. Meanwhile, there is no guarantee of financial relief from the government beyond September. Read more about how wages trended in the COVID-19 recession and in the period since at Pew Research Center's site: https://pewrsr.ch/2X1LnDm #wages #earnings #inequality #COVID #recession

In a new analysis, my co-author Jesse Bennett and I show that immigrant workers experienced more volatility in employment than U.S-born workers during the pandemic. They entered the pandemic on the same footing as U.S.-born workers but saw their unemployment rate increase more sharply with the onset of the COVID-19 recession. As the economic recovery gained momentum, unemployment among immigrants fell more quickly and is now about equal with that of U.S.-born workers. However, for both groups, the unemployment rate remains greater than the pre-pandemic level. The pandemic-driven volatility in unemployment was most notable among immigrant women. There were 27.3 million foreign-born workers in the U.S. in 2020, accounting for 17.0% of the total labor force. They tend to be more vulnerable in recessions because they are less likely to have attended college and many are unauthorized. Among women, immigrants are relatively more likely to work in the leisure and hospitality and other services sectors – a liability in the pandemic as social distancing rules had a severe impact on those businesses. Read more about how different groups of immigrant and U.S.-born workers fared at Pew Research Center's site: https://pewrsr.ch/3BKXUen #immigrants #unemployment #jobs #COVID

Want to know where you fit in the global income distribution? You can find out by using our new income calculator. All you need to do is to enter your household’s total income in 2020 in the currency used where you live (our calculator covers 189 countries and territories). This could be in daily, weekly, monthly or annual terms. Your best guess will do. Next, enter the number of people in your household, including yourself. We do not store or share any of the information you enter. The calculator reports where you might have stood in the global income distribution in 2020. It also reports the income distribution of the population in your geographical region. For example, if you live in India, the calculator will show your placement in the global income distribution in 2020 and the distribution by income of the population in South Asia. Read more about the calculator and the underlying analysis at Pew Research Center's site: https://pewrsr.ch/3eIGtBv and https://pewrsr.ch/3lt2y97 #GlobalMiddleClass #MiddleClass #Poverty