Hassett Says AI Is Not Costing Jobs Now as Tech Firms Cut Thousands
Updated
Updated · CNBC · May 11
Hassett Says AI Is Not Costing Jobs Now as Tech Firms Cut Thousands
4 articles · Updated · CNBC · May 11
Kevin Hassett said Monday there is "no sign in the data" that AI is currently eliminating jobs, even as Washington studies longer-term workforce effects through a White House task force.
Tech layoffs have fueled the concern: Amazon, Meta and Oracle have announced job cuts, with some companies explicitly tying leaner staffing to AI-driven automation and productivity gains.
Block offered one of the clearest examples, saying in February it would cut nearly 4,000 employees and use AI to automate more work with smaller teams.
The comments highlight a widening gap between official labor-market assessments and corporate messaging that presents AI as a tool for operating with lower headcounts.
Is replacing experienced workers with AI a true productivity gain or a costly short-term gamble for companies?
With AI eliminating 35% of entry-level jobs, how will the next generation even start their careers?
Why does the White House claim no data shows AI job loss while dozens of CEOs say the opposite?