Job losses on Wall Street

Record-breaking profits at investment banks appear to be another relic of the golden age. 

Workers hired to meet roaring demand have been left twiddling their thumbs. Now they are being shown the door.

Read the full story on The Economist HERE (subscription may be required)

How AI Is Already Reshaping White-Collar Work

Artificial intelligence doesn’t just make fantastical images. 

For white-collar workers, generative AI like ChatGPT can make jobs easier by creating drafts of documents or presentations. Initial images, video and product designs could be taken over by machine learning tech. 

In fact, one report says nearly 4,000 workers lost their jobs in May to AI. 

Dropbox cut 16% of its workforce in part to invest more in the tech, while IBM sees a future where 30% of clerical work could be taken over by AI. 

WSJ explains why AI may take some white-collar jobs – but also add new ones.

Why Tech Layoffs Don’t Reflect the Job Market

The tech sector has cut about 50,000 jobs in November. The recent headlines about tech layoffs don't seem to match broader economic indicators, which show a strong job market and a historically low unemployment rate.