According to FT:
Construction groups shed 9,000 jobs and manufacturing 18,000, while information and professional and business services cut positions by 20,000 and 26,000, respectively. Education and health services and leisure and hospitality posted respective gains of 33,000 and 13,000.
According to fool49:
I don't know how accurate ADP statistics are. But it looks like physical labour in construction and manufacturing is declining. So the tariffs aren't bringing back these blue collar jobs. And you can't blame automation here. But AI may be to blame for declining jobs in professional services. Despite these job losses, overall there is still over 4% wages growth.
We don't need more teachers and doctors. We need better teachers and doctors. Teachers should be teaching students how to teach themselves. Doctors should focus on solving healthcare problems, with preventive care and AI. And intelligent people should work with AI and other digital tools, to take care of their own minds and bodies.
Reference: Financial Times
US private employers shed 32,000 jobs in November
byu/fool49 ineconomy
Posted by fool49
2 Comments
Current discussion is about replacing doctors, at least in research and the oublic media
Instead of better healthcare, youre gonna get nurses using AI for the same price.
Same with teachers.
AI is a scapegoat for the job cuts that were going to happen anyways because of degrading fundamentals. The teachers/doctors thing is a side issue but we’ve been underproducing both for decades now