Recent reports indicate that AI automation is profoundly affecting the workforce, particularly in the service sector, which constitutes the majority of US jobs. In July, only 73,000 nonfarm jobs were added, highlighting dwindling job opportunities amid rising corporate profits, especially in tech firms. Historically reliant on low wages, the service industry now sees recent graduates struggling to find work alongside a wave of layoffs in the tech sector, challenging the stability of entry-level positions for various professional fields.
The bombshell July jobs report has finally confirmed what many US workers have been feeling for months: it's almost impossible to find meaningful employment anymore.
Since 2005, service workers have made up the bulk of the US labor force, contributing 80 percent of the nation's GDP.
Massive firms like Microsoft - once a dependable landing pad for STEM workers - are seeing quarterly profits skyrocket by as much as 25 percent, even as it cuts jobs by the thousands.
Workers in the richest country on the planet are now in uncharted waters.
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