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AI Fuels Job Growth and Wages, Study Finds
27 Dec
Summary
- AI-exposed jobs show higher growth than others.
- Workers in AI-prone roles are receiving pay bumps.
- Entry-level professionals face significant career challenges.
Predictions of widespread job losses due to Artificial Intelligence are being challenged by recent findings. Occupations deemed most susceptible to AI automation are actually outperforming the broader labor market, demonstrating robust job growth and significant real wage increases. This suggests AI is primarily augmenting human capabilities and shifting tasks to more valuable activities.
The research indicates a notable acceleration in job growth for AI-exposed roles, including office clerks and data scientists, from 1% in pre-COVID years to 1.7% in 2023 and beyond. Simultaneously, these positions saw wage growth surge from a minimal 0.1% pre-pandemic to 3.8% post-pandemic. This trend highlights AI's potential to drive economic transformation, akin to past technological revolutions.
Despite the positive outlook for many careers, entry-level professionals are encountering substantial difficulties. Job postings for early-career individuals, particularly in AI-exposed fields, have decreased significantly since 2022. Major employers have also halved their headcount of young staffers, indicating shrinking opportunities for this demographic.
