AI Not Affecting Job Market Much So Far, New York Fed Says

“Businesses reported a notable increase in AI use over the past year, yet very few firms reported AI-induced layoffs,” New York Fed economists wrote in the blog. “Indeed, for those already employed, our results indicate AI is more likely to result in retraining than job loss, similar to our findings from last year,” and so far the technology does not point to “significant reductions in employment.”