AI is significantly impacting employment in the U.S., particularly among young tech workers. Following the introduction of ChatGPT in November 2022, tech sector employment has begun to decline. The unemployment rate for young workers aged 20-30 has surged by nearly 3% since early 2024, which is more than four times the overall rate. Goldman Sachs estimates AI will automate 6% to 7% of jobs in the next decade, with layoffs already exceeding 27,000 in 2023. Tech leaders warn that AI could replace half of entry-level white-collar jobs, potentially leading to a 20% unemployment rate.
Unemployment is especially high for 20- to 30-year-olds aiming to work in the tech sector, with a nearly 3% increase since the start of 2024.
AI will replace 6% to 7% of all U.S. workers within the next decade, but the unemployment rate is predicted to only grow by a manageable 0.5%.
AI has directly caused more than 27,000 job cuts in the private sector since 2023, indicating a significant impact on the workforce.
Dario Amodei, CEO of AI startup Anthropic, predicted that AI could eliminate half of all entry-level, white-collar work, possibly raising unemployment to as much as 20%.
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