"The industries which raced toward artificial intelligence may already be reaping the rewards of their gamble, but it seems at last their staffers might also be paying the price. According to a St. Louis Fed study released last week the U.S. "may be witnessing the early stages of AI-driven job displacement," with a weighting toward the sectors which adopted the emerging technology most heavily."
"The research. released on August 26, sought to establish whether AI is contributing to rising unemployment. This comes after an unwelcome surprise in the labor market early last month when the Bureau of Labor Statistics hugely revised down its data: May's tally was cut from 144,000 to 19,000, and June's total was slashed from 147,000 to just 14,000, resulting in a combined loss of of 258,000."
Early signs of AI-driven job displacement are appearing in the U.S., concentrated in computing and math sectors that adopted AI heavily. Entry-level workers appear most vulnerable while experienced employees in AI-heavy fields are benefiting as companies slow hiring in traditional roles and double down on AI-focused talent. Generative AI adoption reached 23% weekly use among employed workers by late 2024. Bureau of Labor Statistics revisions cut May and June job tallies by a combined 258,000, intensifying questions about whether AI is reshaping labor markets and contributing to a weaker hiring picture.
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