The Bad PlaceHome - CBSNews.com | AI is driving more job cuts and weighing on hiring, economists say
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AI‑related layoffs are climbing, with nearly 50,000 jobs cut this year—about 17 % of all announced cuts—after firms such as Intuit, Meta and Cisco trimmed staff to pivot toward AI. Experts, however, say the bigger story is not mass dismissals but a slowdown in hiring, especially for junior and entry‑level positions, which has already shaved roughly 16,000 jobs from monthly payroll growth and nudged the unemployment rate up. Analysts warn AI could eventually affect up to 15 % of U.S. jobs, yet most current cuts are framed as strategic moves to invest in technology rather than direct replacements of workers. Consequently, younger workers face heightened risk as their roles are easier to automate, while those who combine AI proficiency with adaptability and uniquely human skills are likely to be best positioned for the evolving labor market.
Read more: https://www.cbsnews.com/news/ai-layoffs-hiring-entry-level-workers/
#Intuit #Meta #Cisco #Challenger #GoldmanSachs #DanielKeum #GregDaco
AI job cuts are rising, but experts say layoffs are only part of the story
Economists say AI is reshaping the U.S. labor market by suppressing hiring even as overall job losses remain limited.
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