Artificial intelligence stands poised to reshape the US labor market by displacing an estimated 15 million jobs, equating to roughly 9% of the workforce, according to a Goldman Sachs economist. Joseph Briggs, head of global economics at the bank’s research division, likened the scale of this disruption to the technology transformations experienced during the late 1990s and early 2000s.
Briggs highlighted that sectors already embracing AI tools—such as technology, management consulting, and graphic design—have seen a monthly reduction of 10,000 to 15,000 jobs in employment growth. Despite these initial impacts, he cautioned against the narrative that AI will cause permanent job losses. Instead, he emphasized historical trends showing that over the past eight decades, technological advances have been responsible for creating about 85% of new jobs, illustrating the economy's capacity to adapt and generate new opportunities as others fade.
The ongoing labor market churn further supports this adaptive capacity. Briggs noted that tens of millions of jobs are created and destroyed annually, suggesting that even a modest acceleration in job creation could absorb workers displaced by AI. This perspective challenges more alarmist views of AI-induced unemployment, framing the technology as a catalyst for change rather than an existential threat to work itself.
Conversely, some experts project a more gradual transition. MIT’s Neil Thompson observed that while AI’s technical abilities advance rapidly, its practical adoption lags behind due to factors such as data access restrictions—particularly in sensitive areas like healthcare—and cost constraints. He argued that AI will automate parts of most jobs rather than fully replace them, which could reshape job tasks and wages rather than eliminate roles outright. For example, GPS technology automated drivers’ navigation expertise but ultimately expanded the taxi workforce despite lowering wages, illustrating a nuanced impact of automation on employment.
Amid these developments, recent labor statistics reveal a slowdown in job growth. The latest US jobs report recorded an increase of 57,000 positions, significantly below economists’ expectations, with earlier months also revised downward. The unemployment rate edged lower but primarily due to workers exiting the labor force. Whether these figures point to an early sign of AI-driven disruption or broader economic fluctuations remains uncertain.