AI’s entry-level hiring nightmare is another gift to boomers’ retirement plans

From the source

The same technology that may be blocking a 23-year-old from landing their first job is lifting their parents’ 401(k). AI, long something claimed to eliminate the entry-level workforce by half in the future, is also gaining a bigger foothold in the stock market: It’s driving high gains for retirees’ portfolios, according to a financial analyst, but is posing a question of risk ability for younger investors. The Magnificent Seven companies alone accounted for over half of the S&P 500’s annual gains last year, just as AI-driven companies now make up over a third of the index’s companies. That means the same AI boom putting pressure on some entry-level jobs is also lifting the index funds, 401(k)s, and brokerage accounts on which many retirees rely.