The Aussie jobs that will be lost to AI
A significant number of jobs in various industries, including sales, clerical work, and hospitality, have been lost due to the COVID-19 pandemic, with some experiencing drops as high as 46 percent.
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Posted 8/21/2023, 11:37:17 PM
dailymail.co.uk
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The U.S. labor market has proven resilient in the face of the pandemic, with narratives of a "she-cession," early retirements, a white-collar recession, and missing men falling apart as employment rates rebound among various demographic groups, highlighting the lesson that one should never bet against the U.S. worker.
The rate of people quitting their jobs has returned to pre-pandemic levels, indicating a decline in workers' advantage and a cooling labor market influenced by the Federal Reserve's interest rate hikes, which have led to worsening job prospects and decreased consumer confidence.
Job openings and layoffs decreased in July, indicating a return to pre-pandemic labor market patterns, with economists attributing the drop to a decline in turnover rather than contraction.
The US job market added 187,000 jobs in July, returning to pre-pandemic levels and indicating a gradual cooling off of the labor market, with positive economic news and a steady unemployment rate of 3.5%.