Latest news with #U.S.BureauofLabor
Yahoo
5 days ago
- Business
- Yahoo
OpenAI's CEO Sam Altman says in 10 years' time college graduates will be working ‘some completely new, exciting, super well-paid' job in space
With Gen Z facing existential career crises, billionaire OpenAI CEO Sam Altman says that in just 10 years, college grads will be exploring the solar system—jobs that'll reel in sky-high salaries. The tech leader even says he's envious of young people because our early-career jobs will look 'boring' by comparison. As AI reshapes the workforce, many Gen Z college graduates are finding out the hard way that their degrees don't guarantee a smooth career launch. Now, even OpenAI CEO Sam Altman—one of Silicon Valley's biggest leaders driving the AI revolution—is admitting the elephant in the room is true: AI will wipe out some jobs entirely. However, the tech billionaire insists the coming decade could be the most exciting time in history to start a career, especially for anyone who's ever dreamed of working in space. 'In 2035, that graduating college student, if they still go to college at all, could very well be leaving on a mission to explore the solar system on a spaceship in some completely new, exciting, super well-paid, super interesting job,' Altman said to video journalist Cleo Abram last week. Not only will they be reeling in sky-high salaries, but Altman says they'll also be 'feeling so bad for you and I that we had to do this really boring, old work and everything is just better.' Though it's unclear how widespread space exploration will expand in the coming years—considering NASA's broad goal of getting to Mars in the 2030s—aerospace engineers are growing faster than the national average of all jobs, according to data from the U.S. Bureau of Labor. And they bring home an envy-inducing annual paycheck of over $130,000. How AI will reshape the workplace Other tech pioneers have AI predictions that are more grounded on Earth—but still alluring to workers. For example, billionaire Microsoft cofounder Bill Gates said earlier this year that the technology might dramatically reduce the length of the workweek thanks to humans no longer being needed 'for most things.' 'What will jobs be like? Should we just work like 2 or 3 days a week?' the tech billionaire told Jimmy Fallon on The Tonight Show earlier this year. Nvidia CEO Jensen Huang echoed AI has already given his workers 'superhuman' skills—something that will only increase as the technology advances. 'I'm surrounded by superhuman people and super intelligence, from my perspective, because they're the best in the world at what they do. And they do what they do way better than I can do it. And I'm surrounded by thousands of them. Yet it never one day caused me to think, all of a sudden, I'm no longer necessary,' he separately told Cleo Abram on her Huge Conversations podcast series. While Altman admitted that his crystal ball remains foggy—and that the true direction of AI is unclear—he is actually envious of Gen Z professionals starting off their careers: 'If I were 22 right now and graduating college, I would feel like the luckiest kid in all of history,' he added to Abram. Fortune reached out to OpenAI for comment. AI will make one-person, billion-dollar companies After last week's launch of the latest OpenAI model, GPT-5, Altman declared that the world has access to technology equivalent to a 'team of Ph.D. level-experts' right in their pocket. And as a result, the CEO said it will be easier than ever for one person to create a business that used to take 'hundreds' of people—all it takes is coming up with a great idea and mastering AI tools. 'It is probably possible now to start a company, that is a one-person company that will go on to be worth more than a billion dollars, and more importantly than that, deliver an amazing product and service to the world, and that is like a crazy thing,' he said. Billionaire Mark Cuban has gone even further with his prediction, saying that AI could give Elon Musk a run for his money as the world's richest person. 'We haven't seen the best or the craziest of what [AI is] going to be able to do,' Cuban told the High Performance podcast earlier this summer. 'And not only do I think it'll create a trillionaire, but it could be just one dude in the basement. That's how crazy it could be.' This story was originally featured on
Yahoo
5 days ago
- Business
- Yahoo
OpenAI's CEO Sam Altman says in 10 years' time college graduates will be working ‘some completely new, exciting, super well-paid' job in space
With Gen Z facing existential career crises, billionaire OpenAI CEO Sam Altman says that in just 10 years, college grads will be exploring the solar system—jobs that'll reel in sky-high salaries. The tech leader even says he's envious of young people because our early-career jobs will look 'boring' by comparison. As AI reshapes the workforce, many Gen Z college graduates are finding out the hard way that their degrees don't guarantee a smooth career launch. Now, even OpenAI CEO Sam Altman—one of Silicon Valley's biggest leaders driving the AI revolution—is admitting the elephant in the room is true: AI will wipe out some jobs entirely. However, the tech billionaire insists the coming decade could be the most exciting time in history to start a career, especially for anyone who's ever dreamed of working in space. 'In 2035, that graduating college student, if they still go to college at all, could very well be leaving on a mission to explore the solar system on a spaceship in some completely new, exciting, super well-paid, super interesting job,' Altman said to video journalist Cleo Abram last week. Not only will they be reeling in sky-high salaries, but Altman says they'll also be 'feeling so bad for you and I that we had to do this really boring, old work and everything is just better.' Though it's unclear how widespread space exploration will expand in the coming years—considering NASA's broad goal of getting to Mars in the 2030s—aerospace engineers are growing faster than the national average of all jobs, according to data from the U.S. Bureau of Labor. And they bring home an envy-inducing annual paycheck of over $130,000. How AI will reshape the workplace Other tech pioneers have AI predictions that are more grounded on Earth—but still alluring to workers. For example, billionaire Microsoft cofounder Bill Gates said earlier this year that the technology might dramatically reduce the length of the workweek thanks to humans no longer being needed 'for most things.' 'What will jobs be like? Should we just work like 2 or 3 days a week?' the tech billionaire told Jimmy Fallon on The Tonight Show earlier this year. Nvidia CEO Jensen Huang echoed AI has already given his workers 'superhuman' skills—something that will only increase as the technology advances. 'I'm surrounded by superhuman people and super intelligence, from my perspective, because they're the best in the world at what they do. And they do what they do way better than I can do it. And I'm surrounded by thousands of them. Yet it never one day caused me to think, all of a sudden, I'm no longer necessary,' he separately told Cleo Abram on her Huge Conversations podcast series. While Altman admitted that his crystal ball remains foggy—and that the true direction of AI is unclear—he is actually envious of Gen Z professionals starting off their careers: 'If I were 22 right now and graduating college, I would feel like the luckiest kid in all of history,' he added to Abram. Fortune reached out to OpenAI for comment. AI will make one-person, billion-dollar companies After last week's launch of the latest OpenAI model, GPT-5, Altman declared that the world has access to technology equivalent to a 'team of Ph.D. level-experts' right in their pocket. And as a result, the CEO said it will be easier than ever for one person to create a business that used to take 'hundreds' of people—all it takes is coming up with a great idea and mastering AI tools. 'It is probably possible now to start a company, that is a one-person company that will go on to be worth more than a billion dollars, and more importantly than that, deliver an amazing product and service to the world, and that is like a crazy thing,' he said. Billionaire Mark Cuban has gone even further with his prediction, saying that AI could give Elon Musk a run for his money as the world's richest person. 'We haven't seen the best or the craziest of what [AI is] going to be able to do,' Cuban told the High Performance podcast earlier this summer. 'And not only do I think it'll create a trillionaire, but it could be just one dude in the basement. That's how crazy it could be.' This story was originally featured on
Boston Globe
04-08-2025
- Business
- Boston Globe
All major Las Vegas Strip casinos are now unionized in historic labor victory
Advertisement The historic deals finalized late last year mark a major turning point: For the first time in the Culinary Union's 90-year history, all major casinos on the Strip are unionized. Backed by 60,000 members, most of them in Las Vegas, it is the largest labor union in Nevada. Experts say the Culinary Union's success is a notable exception in a national landscape where union membership overall is declining. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'Together, we've shown that change can be a positive force, and I'm confident that this partnership will continue to benefit us all in the years to come,' Patrick Nichols, president and CEO of the Venetian, said shortly after workers approved the deal. Pacheco says their new contract has already reshaped her day-to-day life. The housekeeper no longer races against the clock to clean an unmanageable number of hotel suites, and she's spending more quality time with her children because of the better pay and guaranteed days off. Advertisement 'Now with the union, we have a voice,' Pacheco said. Union strength is fading nationally These gains come at a time when union membership nationally is at an all-time low, and despite Republican-led efforts over the years to curb union power. About 10% of U.S. workers belonged to a union in 2024, down from 20% in 1983, the first year for which data is available, according to U.S. Bureau of Labor statistics. President Donald Trump in March signed an executive order seeking to end collective bargaining for certain federal employees that led to union leaders suing the administration. Nevada and more than two dozen other states now have so-called 'right to work' laws that let workers opt out of union membership and dues. GOP lawmakers have also supported changes to the National Labor Relations Board and other regulatory bodies, seeking to reduce what they view as overly burdensome rules on businesses. Ruben Garcia, professor and director of the workplace program at the University of Nevada, Las Vegas law school, said the Culinary Union's resilience stems from its deep roots in Las Vegas, its ability to adapt to the growth and corporatization of the casino industry, and its long history of navigating complex power dynamics with casino owners and operators. He said the consolidation of casinos on the Las Vegas Strip mirrors the dominance of the Big Three automakers in Detroit. A few powerful companies — MGM Resorts International, Caesars Entertainment and Wynn Resorts — now control most of the dozens of casinos along Las Vegas Boulevard. Advertisement 'That consolidation can make things harder for workers in some ways, but it also gives unions one large target,' Garcia said. That dynamic worked in the union's favor in 2023, when the threat of a major strike by 35,000 hospitality workers with expired contracts loomed over the Strip. But a last-minute deal with Caesars narrowly averted the walkout, and it triggered a domino effect across the Strip, with the union quickly finalizing similar deals for workers at MGM Resorts and Wynn properties. The latest contracts secured a historic 32% bump in pay over the life of the five-year contract. Union casino workers will earn an average $35 hourly, including benefits, by the end of it. The union's influence also extends far beyond the casino floor. With its ability to mobilize thousands of its members for canvassing and voter outreach, the union's endorsements are highly coveted, particularly among Democrats, and can signal who has the best shot at winning working-class votes. The union has — and still — faces resistance The union's path hasn't always been smooth though. Michael Green, a history professor at UNLV, noted the Culinary Union has long faced resistance. 'Historically, there have always been people who are anti-union,' Green said. Earlier this year, two food service workers in Las Vegas filed federal complaints with the National Labor Relations Board, accusing the union of deducting dues despite their objections to union membership. It varies at each casino, but between 95 to 98% of workers opt in to union membership, according to the union. 'I don't think Culinary Union bosses deserve my support,' said one of the workers, Renee Guerrero, who works at T-Mobile Arena on the Strip. 'Their actions since I attempted to exercise my right to stop dues payments only confirms my decision.' Advertisement But longtime union members like Paul Anthony see things differently. Anthony, a food server at the Bellagio and a Culinary member for nearly 40 years, said his union benefits — free family health insurance, reliable pay raises, job security and a pension — helped him to build a lasting career in the hospitality industry. 'A lot of times it is an industry that doesn't have longevity,' he said. But on the Strip, it's a job that people can do for '20 years, 30 years, 40 years.' Ted Pappageorge, the union's secretary-treasurer and lead negotiator, said the union calls this the 'Las Vegas dream.' 'It's always been our goal to make sure that this town is a union town,' he said.
Time Out
03-07-2025
- Business
- Time Out
Chicago ranked among the most overpriced U.S. cities in new study
Chicagoans can't catch a break when it comes to the cost of living —at least, according to a new study from home-goods pros Highland Cabinetry, which ranks the most overpriced cities in the U.S. Analyzing a diverse range of metrics that consider not only the cost of living but also the quality of life in the Windy City—including the exorbitant expense of housing, earned income, relative safety, traffic and so on—the study sourced its data from the likes of the U.S. Bureau of Labor and Zillow real estate stats. While Newark, New Jersey earned the number one spot for being the most overpriced city in the U.S., earning a perfect score of 100 (not an A+ in this case), followed by New York City with a score of 98.17, Chicago sailed in at No. 7 with an overall score of 89. Given that Chicago is a major city with 2.75 million people, the third largest in the U.S., those expensive results aren't entirely surprising. According to the study, rent plus cost of living will set you back $3,704 in the Windy City. With a median household income of $74,474, the dollar doesn't stretch too far in Chicagoland. The safety index comes in at 33.9, quite a low score; pollution rates at 50.69; and the traffic index comes in at 189.12—all of this is to say that Chicago can be a tough place to thrive, especially if you're not a high-income earner. (The 5.3-percent unemployment rate, the worst on the list, doesn't help matters). 'Cost of living alone doesn't define the value of a city,' a spokesperson for Highland Cabinetry told ZeroHedge. 'What our data shows is that several high-cost urban areas come with serious trade-offs, whether it's long commutes, safety issues, or environmental stress. For many residents, the price tag isn't the only consideration—it's what that money gets you. And in many cases, the return on investment just isn't there.'
