Two industries are reducing 28,000 jobs each month. The impact of AI on employment is evident.

Although the issue of whether artificial intelligence will lead to mass unemployment in the future is still debatable, it has already left its mark on employment data in the United States. Government data shows that the pace of job losses in the financial activities and information industries has accelerated to an average of 28,000 positions per month by 2026. These two industries are also the fastest-growing areas for AI adoption. This contrasts sharply with the overall strong performance of the labor market. As of May this year, over 113,000 new jobs were added each month a number that would have been even higher if it were not for the banking and technology sectors lagging behind. The employment data for June, which will be released on Thursday, is expected to show steady growth once again. Following significant investments in AI, technology companies are increasingly laying off employees under the pretext of AI. Senior executives from JPMorgan Chase, Citigroup, and Goldman Sachs have also indicated that AI will replace certain positions.