The Jobs Apocalypse Is Postponed

The Economist: “Perhaps AI will eventually make many humans unemployable—but there is no sign of it yet. On September 4th the Bureau of Labor Statistics reported that the American economy added 162,000 jobs in August, far above expectations. The unemployment rate is just 4.1%, lower than in almost 90% of months over the past half-century.”

“Young workers, often cast as AI’s first victims, are holding up remarkably well: the gap between unemployment among 20-24-year-olds and the overall rate is close to a multi-decade low.”