AI has yet to create a meaningful disruption in the labor market. For now, the data continues to show a fully employed U.S. economy, with unemployment holding near 4%, well below the long-term average of 5.9%. While much of the current debate focuses on AI’s potential to replace millions of jobs, and disruption is likely in certain industries, history suggests that technological shifts often transform work rather than eliminate it entirely. The internet provides a similar example: many feared it would displace large numbers of workers, and in many cases it did. However, it also created entirely new industries, professions, and opportunities that were difficult to predict beforehand.
Source: U.S. Bureau of Labor Statistics
This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.
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