AI Spending Boosts Jobs and Inflation as May Payrolls Could Top 95,000
Updated
Updated · Apollo Global Management · May 29
AI Spending Boosts Jobs and Inflation as May Payrolls Could Top 95,000
2 articles · Updated · Apollo Global Management · May 29
Apollo’s chief economist said weekly ADP data show zero evidence of AI-driven job losses, arguing the current AI boom is adding jobs rather than replacing them.
Data-center construction and corporate AI rollouts are lifting demand for implementation specialists, while also pushing up wages for AI talent and prices for semiconductors, equipment and energy.
That combination is stoking both employment and inflation, leading Apollo to say May nonfarm payrolls could come in well above the 95,000 consensus forecast.
Apollo framed the trend as Jevons paradox in real time: cheaper, more capable technology is expanding demand enough to create more hiring across the economy.
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