Canaries, Interest Rates, and Timing: More on the Recent Drivers of Employment Changes for Young Workers

The authors’ follow-up tests whether interest rates and timing explain the entry-level decline. It adds caution around the earliest years while finding that interest rates do not explain the disproportionate fall in AI-exposed occupations.

Brynjolfsson, Erik, Bharat Chandar, and Ruyu Chen. 'Canaries, Interest Rates, and Timing: More on the Recent Drivers of Employment Changes for Young Workers.' Stanford Digital Economy Lab, 9 February 2026.