technology ·
October jobs report shows 165,000 new jobs amid AI boom concerns
The labor market appears stronger than anticipated, with employers adding 165,000 new positions during October, as revealed by a recent government publication.
Furthermore, the job increases recorded for August and September have been adjusted upward by a total of 84,000 jobs. This upward revision paints a picture of the employment landscape over the preceding three months that surpasses initial expectations, yet this positive economic news arrives concurrently with mounting doubts regarding the long-term viability of the current AI surge. Amna Nawaz discusses these developments with Diane Swonk, who serves as the chief economist for KPMG.
