'AI killed the cover letter.' This Wharton economist says the hiring ritual's days are numbered

woman in blue button down looking at a piece of paper (Credit: Getty Images)

Sending your resume into the void has never felt more useless.

Employers cut 92,000 jobs in February alone. Unemployment among entry-level employees peaked last July at 13.3%, the worst entry-level market in 37 years. Two-thirds of companies have put hiring on pause while they wait to see where AI can fill the gaps, and in the meantime, 1.17 million jobs have been cut since last year.