"job creation is very low, and the job-finding rate for people who are unemployed is very low."
"Much of the time they're talking about AI and what it can do,"
"consumers at the lower end are struggling and buying less and shifting to lower-cost products,"
The Federal Reserve lowered interest rates to roughly 3.75–4.0%, the lowest level in three years. Job creation and the job-finding rate for unemployed people are very low. A significant number of companies are laying off workers or pausing hiring, often citing artificial intelligence as a reason. Rising unemployment and persistent inflation are occurring simultaneously, increasing pressure on working-class households. Corporations can use higher unemployment to suppress wage growth, and lower-income consumers are shifting to cheaper products. High-income households and corporations continue to benefit from a strong stock market, widening economic inequality.
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