AI is taking all our jobs!!! Oh wait...payroll beats estimates at 303K

Yeah moar Gov jobs to frick with the numbers

Meanwhile 1.8mil full time jobs lost the last 3mnths but dont worry 900k pt jobs were gained

I'd start worrying when the self-checkout works as fast as a cashier. Or my phone works flawlessly.

Until then we are good.

Wait until the numbers are revised down next month.

Does not follow the victim mentality
Here and the Poli board

We don’t have a centrally planned economy
Biden and Trump don't/didnt run things

Anyone who thinks it should be called Comrade

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or cut and blow lawns.

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Ummmm.....

There's a bunch of versions of this too.

Mean most of those minimum wages jobs that are going to illegal aliens?
Or is it another LIE again and the job numbers will be adjusted down another 100K in a month?

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Or is it another LIE again and the job numbers will be adjusted down another 100K in a month?

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I think we know that answer. They have done this pretty consistently because they know the media will shout the original numbers from the rooftops and then quietly mumble the revisions.

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Labor Department Cuts 167,000 Jobs From December and January Payrolls

Last Updated:

March 8, 2024 at 8:30 PM EST

By Megan Leonhardt

The Labor Department made significant reductions to the previously reported outsize payroll gains in December and January.

The department cut 124,000 payroll gains from the 353,000 jobs initially reported for January. The revised total was just 229,000 .

It also cut 43,000 from total nonfarm payroll employment for December, revising down the total gain to 290,000, from 333,000

With the revisions, the combined gain in nonfarm employment for December and January is 167,000 lower than previously reported.

The revisions shift the overall picture on labor trends, making December and January fall more in line with the recent trends of a solid, but normalizing employment situation.

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I think the question is, will the market stop reacting to these reports knowing they're Kim Jong Un level bullshite?

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The AI sky is falling

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Such a dumb and stupid take to act like AI isn't going to change work as we know because it hasn't done so immediately. AI is going to be your assistant for a few years before it replaces you. And it's not going to replace you specifically as much as it's going to make you so much more productive that what used to take a lot of human labor is going to take much less human labor.

What happens after that is up in the air. Will we grow the economy at insane rates and produce 50% more than we produce now while keeping everyone employed? Or will we keep production as it is now and need a lot less people to power the same economy?

It's a common fear that AI will lead to widespread job loss, but as you mentioned, the data often tells a different story. In this case, payroll numbers exceeding estimates by 303,000 jobs suggest that AI and automation may not be as detrimental to employment as some fear. While it's important to be mindful of how technology impacts the job market, it's also crucial to consider the broader economic context and the ways in which new technologies can create opportunities and improve productivity.