Reported 2 days ago
The July jobs report revealed that the US added only 73,000 jobs, significantly below the expected 104,000, while the unemployment rate rose to 4.2%. Discussions among experts highlighted the influence of artificial intelligence on job cuts and a slowdown in hiring, suggesting that companies may be relying more on AI for productivity, resulting in fewer replacements for departing employees. The labor market appears to be weakening, driven by low hiring rates rather than layoffs.
Source: YAHOO