Richmond Fed contacts say AI is slowing hiring, not cutting jobs yet
The Richmond Fed spoke with dozens of businesses from early August through early September, then published its findings on September 18. Most contacts expected staffing to remain flat or rise by year-end.
Verified 12:27 AM PDT · 1 original sources
Some firms slowed office hiring while they tested AI. Others hired workers with AI skills. Data-center suppliers reported strong demand, while other firms were more cautious about future sales.
The Richmond Fed gathered these views from regional businesses. They do not provide a national estimate of jobs lost to AI. Hiring plans also cannot tell us how staffing or productivity will change.
Watch whether firms resume hiring once demand becomes clearer and whether they measure productivity gains. An unfilled job is not an eliminated job. Workers will feel the difference.
Audit the story
Original sources
Company claims remain company claims. Follow the reporting and judge the evidence directly.
- Federal Reserve Bank of RichmondWhat businesses are saying: demand and cost pressures felt broader ↗
Continue the edition