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The April jobs report is expected to show that the US labor market added 67,000 positions.
AI has been cited as the leading reason for US job cuts for two consecutive months.
KEY POINTS
- Net immigration declines are now reducing both US labor supply and consumer-driven labor demand.
- Economists have shifted to using three-month job averages due to volatility from birth-death model changes.
- The current monthly 'breakeven' rate for stable US unemployment is likely far lower than in previous years.
- US tech companies accounted for 40% of all announced layoffs in April, heavily citing AI.
COMPANIES
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