Bank of America CEO Hires 2,000 Gen Z Grads Amid Widespread Future Fears
Brian Moynihan, the CEO of Bank of America, recently emphasized the concerns faced by Gen Z regarding artificial intelligence (AI) and the job market. In a discussion with CBS News, Moynihan revealed that the bank recruited 2,000 graduates from a pool of 200,000 applicants. This move comes amid widespread fears related to AI and its impact on employment opportunities for young professionals.
Bank of America’s Efforts to Support Gen Z
Moynihan acknowledged the anxieties of young graduates as companies increasingly rely on AI, resulting in layoffs across various sectors. He stated, “These are kids that we hire, and they say they are worried. I understand that.” In response, he recommended that these individuals harness their fears to navigate their future effectively.
The Role of AI in Employment
While Moynihan noted that it is early to determine AI’s overall impact on job availability, he expressed optimism about using AI efficiencies to foster growth within the company. He mentioned, “We want to drive more growth. The efficiencies from AI will be spent to keep growing the company.”
Current Job Market for Recent Graduates
Several economic experts, including Federal Reserve Chair Jerome Powell, have highlighted a challenging environment for Gen Z entering the workforce. Powell remarked during a press conference in September 2025 that young people, particularly recent college graduates and minorities, are struggling to secure jobs.
Factors Contributing to Job Market Challenges
- Low-hire, low-fire labor market dynamics
- Rapid automation replacing entry-level roles
- Aging workforce in the tech industry
Powell attributed the difficulties not solely to AI, labeling it “probably a factor” rather than the primary cause. He noted that the low job-finding rate persists even in a time of subdued layoffs, creating a stagnant environment detrimental to new job seekers.
Shifting Trends in Job Postings
Data from platforms like Handshake indicates a dual challenge for entry-level job seekers. Corporate role postings have declined by approximately 15% compared to the previous year, while references to “AI” in job descriptions have surged by 400% over two years.
Rising Sentiment Among Young Workers
Economists, including Dartmouth’s David Blanchflower, have pointed out that even when Gen Z secures employment, many report feelings of despair and dissatisfaction. This is compounded by unemployment rates for recent graduates being higher than the national average.
In summary, as Bank of America strategically hires Gen Z graduates, the broader job market remains fraught with challenges and uncertainties. Moynihan’s insights offer a blend of encouragement and realism aimed at helping young professionals carve their paths amid evolving job landscapes influenced by AI.
