"MacCallum cited recent layoffs and subsequent statements from companies like UPS and Amazon blaming advances in AI for the cuts. I'm wondering what you think the impact on the U.S. economy is if we continue to see these kinds of layoffs in people who went to college, they're in a white-collar job, they've been there for 3-5 years, and they're about to get pink slips, she asked."
"I read the news stories as well as you, Martha, clapped back Hassett. If you're unfortunate enough to have your firm say, I'm gonna replace you' if you move to a new profession, AI is gonna help you train faster The labor market is positive, the GDP and income numbers are all real positive. We see the headlines, but those are headlines that you see every year."
"So you're saying that you don't think there's any AI reorganization job structure coming in the United States of America? AI is making people more productive, so that's making it so some firms can make the same amount of stuff with fewer workers, said Hassett. But then those workers go get another job, and that's why labor markets are looking so solid right now."
AI-related layoffs have occurred and some companies, including UPS and Amazon, have attributed cuts to advances in AI. Concerns focus on college-educated, white-collar employees with 3–5 years of tenure facing imminent layoffs. Job creation remains positive and labor market indicators such as GDP and income are strong. AI adoption increases worker productivity, allowing firms to produce the same output with fewer employees. Displaced workers often transition to new jobs and AI can accelerate retraining for new professions. Headlines about layoffs recur annually and have prompted debate about the scope of AI-driven job restructuring; some economic commentators called recent jobs data disappointing in September.
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