AI could lead to record unemployment among new grads: Fink
BlackRock CEO Larry Fink is sounding the alarm about how AI could shake up the job market for this year's college graduates.
At the 2026 Infrastructure Summit, he said, "I'm worried that when this year's college graduates enter the workforce, we could see the highest unemployment rate among them in years—even without a recession."
Fink called it a crisis, pointing out that while AI will create new jobs, society isn't ready to fill them yet.
Shift in job focus
Fink explained that AI is pushing employers to value skilled trades, like electricians and HVAC techs, over traditional four-year degrees.
With more data centers popping up to power AI, demand for these roles is rising fast.
To help bridge the gap, BlackRock is putting $100 million into training 50,000 people in trades like plumbing and ironwork over the next five years.