labor market

Goldman Sachs says AI is already slowing hiring across developed economies

Artificial intelligence is already leaving a measurable mark on hiring across the world's largest economies, with call centers, software publishing, and management consulting among the hardest-hit industries, according to a Goldman Sachs research report published Wednesday.

New research shows AI hitting entry-level workers hardest globally

A convergence of new research from central banks, investment firms and academic institutions published this week paints a stark picture: the economic disruption from artificial intelligence is landing first and hardest on young and entry-level workers, eroding traditional pathways into…

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Nearly a third of CEOs target job cuts through AI, but mass displacement remains elusive

Nearly one-third of CEOs now identify headcount reduction as a key objective of deploying artificial intelligence, according to a Businessolver report published Tuesday that surveyed more than 300 C-suite executives. Yet new research suggests the feared mass displacement of workers…

UN report finds global youth unemployment rising again, with 67 million jobless

The global youth jobs recovery that followed the COVID-19 pandemic has stalled, with unemployment among young people rising and artificial intelligence adding new uncertainty to an already difficult labor market, according to a report released Tuesday by the United Nations'…

Emerging-market stocks, currencies climb after weak US jobs report

Emerging-market stocks and currencies rallied on Monday as investors recalibrated their expectations for Federal Reserve policy following Friday's unexpectedly weak US employment report, which showed the first monthly decline in payrolls in five months.

Pound tops $1.35 after US economy sheds jobs in July

The British pound climbed above the 1.3500 mark against the US dollar on Friday after the US economy unexpectedly shed jobs in July, intensifying bets that the Federal Reserve will ease monetary policy. The GBP/USD pair touched a high of…

Altman says AI won’t deliver shorter workweeks due to human competitiveness

OpenAI CEO Sam Altman said artificial intelligence will not lead to shorter workweeks for most people, arguing that human competitiveness will prevent productivity gains from translating into reduced hours. His remarks, made on Saturday's episode of the "Relentless" podcast, mark…

Nobel laureates among 200+ experts urging AI policy action

More than 200 researchers and economists, including 15 Nobel laureates and researchers at OpenAI, Anthropic, and Google Alphabet Inc., issued a jointly signed statement on Monday calling on governments to urgently address the economic consequences of artificial intelligence. The signatories…

China, India shed over 130,000 tech jobs in AI-driven shift

A sweeping wave of AI-driven job cuts is reshaping the technology workforces of Asia's two largest economies, with China's internet giants quietly eliminating more than 130,000 positions and India's IT sector bracing for tens of thousands of "silent layoffs" as…

British pound hits three-week high as weak US jobs data weighs on dollar

The British pound extended its rally against the US dollar on Tuesday, trading near $1.34 and touching its highest level in three weeks as markets continued to scale back expectations for a Federal Reserve interest rate hike following a disappointing…

Global stocks head for best week since May after weak U.S. jobs data

Global equity markets were poised for their strongest weekly performance since early May on Friday, as softer-than-expected U.S. jobs data eased fears of an imminent Federal Reserve rate hike, sending relief through stock and commodity markets worldwide.

Emerging-market stocks rally as soft U.S. jobs data weakens dollar

Emerging-market equities rallied on Friday as a weaker-than-expected U.S. jobs report pulled the dollar toward its steepest weekly decline since April, easing pressure on developing-world assets that had been battered by Federal Reserve rate-hike fears.

Gold nears $4,200 as weak jobs data eases Fed hike fears

Gold rallied sharply on Thursday, breaking above $4,100 per ounce after a disappointing June employment report undercut expectations for further Federal Reserve interest rate increases. The move snapped what had been the metal's longest weekly losing streak since mid-2023 and…

Asian stocks rally as weak U.S. jobs data eases rate-hike fears

Asian equity markets rallied on Friday as investors snapped up battered technology stocks following a weaker-than-expected U.S. jobs report that eased fears of a near-term Federal Reserve interest rate hike. Seoul's Kospi surged 5.8% to close at 8,088.34, clawing back…

European shares surge after weak US jobs data eases rate hike fears

European equities rallied sharply on Thursday after a weaker-than-expected US jobs report tempered expectations for Federal Reserve interest rate hikes, helping markets shake off earlier pressure from a global selloff in artificial intelligence stocks.

Fitch flags AI-driven job losses as emerging global credit risk

Fitch Ratings has flagged artificial intelligence and heavy digital infrastructure spending as emerging global credit risks, warning that AI-driven labor displacement could erode tax revenues in developed economies. The warning, issued this week, comes amid mounting data showing accelerating job…

Gold surges after Warsh tempers rate hike fears at Sintra

Gold prices staged a sharp reversal on Wednesday, climbing more than 2% after Federal Reserve Chair Kevin Warsh said inflation expectations and risks have declined, and a softer-than-expected private payrolls report undercut the case for near-term rate hikes. The rebound…

Gold hovers near $4,000 as US-Iran talks stall in Doha

Gold hovered near $4,000 an ounce on Tuesday as traders weighed conflicting signals from US-Iran diplomacy in Doha and fresh labor market data that showed the American economy on steady footing.

Companies using AI most are adding junior workers, not cutting them

Companies making the deepest investments in artificial intelligence are expanding their junior workforces rather than shrinking them, according to recent labor market data and employer surveys that challenge assumptions about mass technological unemployment. The findings arrive as OpenAI Chief Economist…

Gallup finds tech workers who skip AI face triple layoff risk

Nearly every corporate leader surveyed by consulting firm Mercer expects artificial intelligence to eliminate jobs at their companies within two years, according to the firm's 2026 Global Talent Trends report — a finding that underscores growing alarm about AI's reshaping…

Tesla offers up to 5x TSMC salaries to poach engineers for chip plant

Tesla is offering salaries three to five times higher than those at TSMC Taiwan Semiconductor Manufacturing Company Limited to lure experienced semiconductor engineers for its ambitious Terafab chip manufacturing project, according to a report from Taiwan's Economic Daily News published…

JD.com boss warns robots will replace 700,000 couriers

Liu Qiangdong, the founder of JD.com, has warned that robots will replace the company's 700,000 delivery workers "sooner or later," according to the Financial Times, as China's largest retailer accelerates its push into autonomous logistics and embodied intelligence.

SAP CEO says AI could replace all human coders within four years

Christian Klein, CEO of SAP, told the Australian Financial Review that artificial intelligence advances in "vibe coding" could eliminate the need for human software developers at his company within four years — a stark prediction from the leader of one…