Goldman Sachs: The U.S. labor market is healthier now than when ChatGPT launched. Yes, really
Goldman Sachs economists report that the U.S. labor market's job mismatch has improved since ChatGPT's launch, contrary to widespread fears of AI-induced job destruction. They argue that AI's initial impact has been to fill existing labor shortages in highly automatable roles, rather than creating widespread unemployment. However, a separate analysis from the New York Fed suggests that AI exposure has had little link to declining job postings, and that the drop in postings for high-exposure roles predated ChatGPT. AI
IMPACT AI's role in the labor market is debated, with new analyses suggesting it may be filling existing shortages rather than solely displacing workers.