AI's Impact on US Employment: Recession in Information Sector, Job Boom in AI-Related Fields
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The US Information sector is experiencing a recession, having lost 23,000 jobs in August, bringing employment to its lowest level since the 2020 pandemic. This decline, totaling -270,000 jobs since November 2022, is comparable to the job losses during the 2008 Financial Crisis. However, AI is also creating new jobs, with an estimated 1 million new positions generated in the US to offset back-office layoffs. These new jobs span various fields, including data center construction, AI engineering, and new roles in professional services.
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