labor market

Most economists doubt AI boom will create jobs, WEF report finds

Even as artificial intelligence reshapes industries worldwide, a majority of the world's top economists do not expect the technology's expansion to translate into broad-based job creation, according to a new World Economic Forum report released on Tuesday.

IMF warns over 40% of educated youth in South Asia are jobless

Highly educated young people across Asia are struggling to find work that matches their qualifications, with unemployment rates among postsecondary-educated youth exceeding 40% in parts of South Asia, according to new research published by the International Monetary Fund.

Study finds AI adoption boosts senior jobs, cuts junior roles across 41 countries

Chamath Palihapitiya, the venture capitalist and CEO of AI coding startup 8090 Labs, has warned that popular AI coding tools risk turning a generation of software developers into "slot machine" players who churn out flawed code at speed rather than…

Goldman Sachs links AI adoption to hiring slowdown in four major economies

Artificial intelligence adoption has reached 15% to 20% across major developed economies, and the shift is already dragging down hiring in technology-intensive sectors, according to a new report from Goldman Sachs The Goldman Sachs Group, Inc. Research published this weekend.

Pew poll: 34 of 37 countries expect AI to shrink jobs

A sweeping new global survey by the Pew Research Center found that in 34 of 37 countries, more people believe artificial intelligence will lead to fewer jobs than more jobs over the next two decades — a finding that underscores…

Anthropic model projects severe knowledge worker job losses in extreme AI scenario

Anthropic's economics team released an interactive model this week projecting how AI could reshape the U.S. economy through 2030, with its most extreme scenario forecasting 17.9% unemployment among knowledge workers and economy-wide joblessness of 11.9% — levels beyond anything seen…

Gartner warns 30% of AI-displaced workers will need rehiring by 2029

Organizations racing to cut staff in the name of AI-driven efficiency may soon find themselves scrambling to bring those workers back. Gartner on Wednesday warned that up to 30% of employees laid off due to AI replacement will need to…

Tech firms scale back AI-driven layoffs after falling short

The promise that artificial intelligence could seamlessly replace large swaths of the human workforce is running into hard reality. Meta, the social media giant, abandoned an ambitious internal plan to cut up to 60% of workers in some teams and…

Dollar slides as yen surges despite Fed rate hike bets

The U.S. economy added 162,000 jobs in August, nearly tripling the consensus forecast and reigniting expectations that the Federal Reserve will raise interest rates later this month. The labor market surprise, reported by the Bureau of Labor Statistics last Friday,…

US CPI, ECB decision loom after blowout jobs report

A blockbuster August jobs report has set the stage for a consequential week in global markets, with the release of US consumer inflation data on Friday and a European Central Bank rate decision on Thursday poised to reshape expectations for…

Gold tumbles as blockbuster US jobs report revives Fed rate-hike bets

Gold prices fell sharply on Friday after the US Bureau of Labor Statistics reported that nonfarm payrolls rose by 162,000 in August, nearly three times Wall Street's consensus forecast of roughly 56,000. The data revived expectations that the Federal Reserve…

UK survey: 1 in 3 employers cut entry-level jobs as AI reshapes hiring

Artificial intelligence is leaving a measurable imprint on U.S. employment data, with the technology and financial services sectors shedding an average of 28,000 jobs per month in 2026 even as the broader economy continues to add positions, according to a…

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…

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.