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America's IT Unemployment Rises To 5.7%. Is AI Hitting Tech Jobs?
The unemployment rate in America's information technology sector "rose from 3.9% in December to 5.7% in January," reports the Wall Street Journal. (Alternate URL here.) Meanwhile last month's overall jobless rate was just 4%, they point out, calling it "the latest sign of how automation and the incr...
Meanwhile last month's overall jobless rate was just 4%, they point out, calling it "the latest sign of how automation and the increasing use of artificial intelligence are having a negative impact on the tech labor market. One management consulting firm offers this explanation: Job losses in tech can be attributed in part to the influence of AI, according to Victor Janulaitis, chief executive of Janco Associates. Increased corporate investment in AI has shown early signs of leading to future cuts in hiring, a concept some tech leaders are starting to call "cost avoidance."
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