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The loss of almost 65,000 jobs in April 2024 were blamed on artificial intelligence, according to Forbes.
All of the jobs lost were at U.S.-based companies and predominantly came from the technology sector. Large layoffs at companies like Tesla, as well as the replacement of humans by robots were to blame, particularly artificial intelligence (AI). (TAKE A POLL: Do You Think Advancements in Technology Will Lead to Greater Economic Inequality?)
More than 325,000 jobs were lost in the U.S. between January and May 2024, with the jobs report triggering part of our current economy collapse, The Hill reported. The number of job losses has been consistently high over the last several years, following on from the COVID-19 pandemic.
No New Jobs On The Horizon
Employers announced in April that they wanted to bring on 9,802 new workers, bringing the total number of new jobs announced between January and April, 46,597, the lowest total in the first four months of a year since 2016, Forbes reported. (TAKE A POLL: Do You Think Advancements in Technology Will Lead to Greater Economic Inequality?)
Forbes noted that the average duration of unemployment in March was 5 months, which is up from 4.4 months during the same period in 2023. As many people were likely given severance packages due to their job loss, or are being supported by family or savings, unemployment rates have stayed steady and completely unrepresentative of the actual jobs market.
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