A similar trend is happening in the U.S. One study found that since 2021, employment has declined 1% in the top 10% of AI-exposed sectors such as law, finance, and education. Workers ages 22 to 25 have felt the loss most profoundly, while the employment of older workers has grown, researchers at Stanford University found.
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Compounding the issue is the latest jobs data, which shows the labor market continuing to strengthen. Payroll provider ADP reported that private employers added 66,000 roles in February, well above the 50,000 expected. That doesn’t help the argument for a cut. The second part of the Fed’s mandate—steady employment—is already taking care of itself with little intervention.