Bold claim to say "no signs" based on non-contextual numbers. I think I recall somewhere that most jobs added were in healthcare.
>> The May jobs report reinforced this with nonfarm payrolls jumping by 172,000, confirming that there are no signs of workers being replaced by ChatGPT.
The shift toward healthcare employment is a very long running trend driven by the greying of the Baby Boom generation.
Well... if you think in terms of a society spending its people on doing various things, spending more people on healthcare could be a good thing. It means we're getting food grown and stuff made with fewer people, so we can spend more people on making sure that everybody lives, and lives healthier.
Workers taking on new/different roles isn't the same as being replaced. Workers have been taking on new/different roles since at least the advent of agriculture, so that's nothing new. Being replaced would be something new, but the data doesn't support it.
It’s so frustrating that someone with a title of “Chief Economist” puts things like this out there.
Job numbers get revised every month, in a negative direction.
New grad unemployment is high and trending higher.
New jobs exclusively are held up by addition in healthcare industry, almost every other sector is seeing some negative movement.
A lot of job openings, a good chunk of them, are just fake jobs where the company has no intention of filling them.
Pretty bold for someone to ignore all of that and come up with a claim like that.