Is AI replacing US jobs?

Since June 2023, the largest increase in unemployment has occurred in occupations with the lowest exposure to AI, rising by +0.8 percentage points.

At the same time, professions with the highest exposure to automation from AI have seen an increase of +0.7 percentage points. This is followed by a +0.4 percentage point rise in fields with the 2nd, 3rd, and 4th lowest exposure to AI.

This indicates that while AI may be contributing to the labor market slowdown, it is not the main driver. When cracks appear in the job market, new hires are often the first to feel the pain, which is the case this time.

Labor market weakness is only partially due to AI.