“New figures reveal that total payroll growth was revised downward by approximately 403,000 jobs. Crucially, this downward revision occurred while real GDP remained robust, including a 3.7 per cent growth rate in the fourth quarter. This decoupling — maintaining high output with significantly lower labour input — is the hallmark of productivity growth…………and I identified a cooling in entry-level hiring within AI-exposed sectors, where recruitment for junior roles………But there is cause for further optimism…….”

Optimism? It’s worth bearing in mind that, as AI companies suck up hundreds of billions in cash and get their electricity costs subsidized, for them to succeed, humans with jobs must fail. They’ll argue that’s zero-sum thinking, and AI will create more jobs than it destroys, but how many people really believe them?

The AI productivity take-off is finally visible New economic data suggests the US is transitioning to a phase of measurable gains from the technology

  • grey_maniacEnglish
    1·
    2 days ago

    Since the average income for poor families dropped from 40 shillings a week to between 7 and 10 shillings a week, I would hardly say I am assuming a conclusion. And I was saying we now have to make sure social support systems are in place to prevent those huge increases in poverty in the short to medium term.

    The economy certainly tanked for poor people, which might help explain the riots in 1826. Granted, the FSA have been working for years to dismantle, denigrate, and stigmatize their social support systems, but just because American corporate capitalist driven economic propaganda leads to those behaviours doesn’t mean other countries who actually care about building a cooperative citizenry can’t focus on preventing what can be predicted.

    • CanadaPlus@lemmy.sdf.orgEnglish
      1·
      19 hours ago

      Sounds like you have a source. That’s great, care to share?

      It’s not going to be uniform across Europe, and it’s going to go up and down as politics and warfare happens. The combined effect of all that colonial wealth coming in is indisputable, though. (The Luddites specifically were an English faction, but the phenomenon was not)

      There were straight-up revolutions in 1848, if you’re looking for an example of the underclass being unhappy. And the French revolution right in this same era. The funny thing about that, is that unrest usually happens when conditions ease up a bit, and people have the luxury of politicking rather than just trying not to starve. Look at the student protests that have happened recently in growing countries like Bangladesh, but not in Niger or Malawi.

      And I was saying we now have to make sure social support systems are in place to prevent those huge increases in poverty in the short to medium term.

      No disagreement there. Poverty is bad.