Tag Archives: unemployment

Pioneering computer scientist Geoffrey Hinton, whose work has earned him a Nobel Prize and the moniker “godfather of AI,” said artificial intelligence will spark a surge in unemployment and profits. In a wide-ranging interview with the Financial Times, the former Google scientist cleared the air about why he left the tech giant, raised alarms on potential threats from AI, and …

Computer scientist and Nobel laureate Geoffrey Hinton predicted artificial intelligence will spark a surge in unemployment and profits as companies replace workers with AI. But it’s not the technology’s fault, he told the Financial Times, attributing it instead to capitalism. While layoffs haven’t spiked, evidence is mounting that AI is shrinking opportunities at the entry level. Pioneering computer scientist Geoffrey …

Fed Gets Green Light for Interest Rate Cuts as Unemployment Rate Jumps to 4-Year High  Realtor.com Fed on track for string of rate cuts as labor market weakens  Reuters Bank of America now expects the Fed to cut rates after previously seeing no moves this year  CNBC Traders See Chance of Half-Point Rate Cut After Weak Payrolls  The Wall Street Journal Jumbo-rate-cut chatter is …

US unemployment rate near 4-year high as labor market hits stall speed  Reuters US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic  AP News Is the Fed ready to go big? Analysts debate jumbo rate cut after soft jobs data  Fortune Payrolls rose 22,000 in August, less than expected in further sign of hiring slowdown  CNBC Labor Market Stalled …

As it has for more than a hundred years, the Bureau of Labor Statistics (BLS) will release its latest monthly jobs report on Friday. But the routine monthly update on the health of the US jobs market has been overshadowed by Donald Trump’s firing of the agency’s commissioner, Erika McEntarfer, hours after July’s statistics were released last month. The BLS’s …

WASHINGTON (AP) — More Americans filed for unemployment benefits last week, but U.S. layoffs remain in the same historically healthy range of the past few years. Applications for unemployment benefits for the week ending Aug. 16 rose by 11,000 to 235,000, the Labor Department reported Thursday. That’s slightly more than the 229,000 new applications that economists had forecast. Weekly applications …

California unemployment rises to 5.5%, worst in the U.S. as tech falters  Hacker News California unemployment rises to 5.5%, worst in the U.S., as tech falters: ‘It’s brutal out there’  San Francisco Chronicle California unemployment rate worst in the nation, according to state data  KRON4 Bay Area and California bounce back with July job gains after June loss  The Mercury News California’s Labor Market: …

Americans more worried about inflation and unemployment after new trade deals leave tariffs at highest level in decades  MarketWatch American consumers are getting nervous about inflation again. For now, they’re still spending  CNN Consumer sentiment falls for first time in 4 months as inflation expectations surge  Yahoo Finance Consumer sentiment worsened in August amid sweeping new tariffs  ABC News US Stocks Steady as Retail …

Businesses trying to do more with less have historically leaned on automation during recessions, but the advent of generative AI could scramble the typical pattern of winners and losers when the next downturn strikes. While white-collar knowledge workers have previously not suffered from severe recession-induced layoffs or jobless recoveries, the next time could be different, JPMorgan senior U.S. economist Murat …

Artificial intelligence is reshaping the US job market — and young tech workers are feeling the brunt of it. “It is true that AI is starting to show up more clearly in the data,” wrote Jan Hatzius, Goldman Sachs’ chief economist, in a Monday note. Goldman’s analysis shows that the tech sector’s share of the US employment market peaked in …