Fed Chair Warns Tech Skills Gap Will Leave Gen Z Workers Behind in Low-Hire Job Market

Breaking News: Fed Chair Warns Gen Z Without Tech Skills Will Be Left Behind Federal Reserve Chairman Jerome Powell issued a stark warning to young workers on Tuesday, stating that those without technology skills will be severely disadvantaged in the current "low-hire, low-fire" job market. Speaking at an event hosted by the Greater Providence Chamber of Commerce in Rhode Island, Powell emphasized that companies are prioritizing technological expertise over other qualifications. Timeline: Date: This week Location: Rhode Island (Greater Providence Chamber of Commerce) Time: Not specified Powell highlighted the challenges faced by young workers entering the labor force, citing an unusual economic landscape where companies are hesitant to expand their payrolls or cut staff. Instead, many businesses are pausing new hires as they navigate uncertain factors such as tariffs and immigration policy. Immediate Impact: The warning from Powell underscores the growing importance of technological skills in the modern workforce. As a result, colleges and universities may need to reassess their curricula to ensure that students are adequately prepared for the demands of the job market. Background Context: Powell's comments reflect concerns about the widening gap between those with advanced technical skills and those without. This issue has been exacerbated by the rapid pace of technological change, which has created new opportunities but also significant challenges for workers who lack the necessary expertise. What Happens Next: As the job market continues to evolve, it is likely that colleges will need to adapt their programs to prioritize technological education. This may involve incorporating more hands-on training in areas such as coding, data analysis, and digital communication. By doing so, institutions can help equip students with the skills they need to succeed in a rapidly changing economy. In a statement, Powell emphasized that "if you come out of school with technological skills, you'll be fine – great, even." However, for those without these skills, he warned that they will face significant challenges in finding employment. *This story is developing. Information compiled from Fortune reporting.*