New York Fed survey: artificial intelligence has little impact on jobs
2025-09-04 14:17:36
The New York Fed survey shows that the penetration of artificial intelligence among surveyed businesses is on the rise, but has had little impact on employment so far. In the past year, 40% of service sector companies and 26% of manufacturing companies have used AI, up from 25% and 16% previously. Most companies reported that they chose to retrain their employees rather than lay them off. Looking ahead, nearly half of service sector companies and a third of manufacturers plan to adopt AI soon. However, the New York Fed warned that future consolidations could lead to more layoffs and reduced hiring, especially in higher-paying positions.
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