"New figures reveal that total payroll growth was revised downward by approximately 403,000 jobs. Crucially, this downward revision occurred while real GDP remained robust, including a 3.7 per cent growth rate in the fourth quarter. This decoupling — maintaining high output with significantly lower labour input — is the hallmark of productivity growth………..and I identified a cooling in entry-level hiring within AI-exposed sectors, where recruitment for junior roles………But there is cause for further optimism…..."

Optimism? It's worth bearing in mind that, as AI companies suck up hundreds of billions in cash and get their electricity costs subsidized, for them to succeed, humans with jobs must fail. They'll argue that's zero-sum thinking, and AI will create more jobs than it destroys, but how many people really believe them?

The AI productivity take-off is finally visible New economic data suggests the US is transitioning to a phase of measurable gains from the technology