Barr: 'now is the time' to prepare for AI-driven job losses
Fed Governor Michael Barr said AI has not yet materially affected the labor market but urged governments and businesses to prepare now for potential job losses.
Related
Work · Wire
UK needs plan in case of 'unprecedented' AI job losses, says ministerUK minister Kanishka Narayan says preparing a plan for potentially unprecedented AI-driven job losses is a top priority, signaling government concern about labor displacement.
Work · Wire
Top Economist Warns AI Could Triple Unemployment Within a Decade — ‘What We Are Living Through…Is Unprecedented’Nobel economist Daron Acemoglu warns AI could triple unemployment within a decade without policy changes, framing current job disruption as historically fast.
Human take
The speed of how fast this could happen is the mind-bender, and so hard to accept, that human brains put it in the back seat and keep a mantra that everything will be fine.
Work · Wire
AI Becomes Top Reason For Job CutsNew job-cut data reportedly shows AI has become the leading stated reason for layoffs, a sign of how quickly automation is affecting who keeps their job.
Work · Wire
Is Canada headed for an AI 'job apocalypse'?A TD Economics report weighs AI capability, cost and adoption speed to assess whether Canada faces large-scale job losses, offering a data-based view of displacement risk for workers.
Work · Wire
US payroll data shows young workers' jobs most affected by artificial intelligenceUS payroll data shows employment for 22–25-year-olds in AI-exposed roles fell 4.4% year-on-year in August, continuing monthly declines since October 2023, a sign of early-career displacement.
Work · Wire
Fearing AI, young workers retrain for hands-on jobsSome young workers are leaving office jobs for teaching, health care and the trades out of concern about AI. The shift shows how anticipated automation is already shaping career choices and trade-offs.
Work · Wire
The 'death' of back-office jobs: office work in the AI stormEuronews examines how AI is automating back-office tasks in insurance and banking, and which office roles face displacement first, a pressing concern for clerical workers.
Work · Wire
After 500 layoffs, Workday says 28% business leaders expect AI to reduce headcountA Workday workforce report finds 28% of business leaders expect AI to cut headcount, with roles shifting toward advanced AI skills while support for workers adapting lags.