AI Spending Boom, No Job Growth: Unprecedented Decoupling

JPMorgans new report reveals a concerning trend: despite big tech companies increased AI spending, its not translating into more jobs. This decoupling effect is unprecedented, as hiring has slowed across developed markets and US payroll growth has plummeted. This unusual pattern has led JPMorgan to scale back its economic forecast and the Federal Reserve to restart its easing cycle, indicating potential concerns for the economy.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.