AI not impacting hiring, Yale Budget Lab says

Despite a stronger-than-expected May jobs report, tech stocks are facing pressure as interest rate expectations are revised. Martha Gimbel, executive director of the Yale Budget Lab, stated that current economic data does not show a significant impact from artificial intelligence on hiring trends. While AI is a major technological development, its influence on the broader labor market has not yet materialized in a way that is discernible in macroeconomic indicators. This suggests that companies are continuing to hire despite the ongoing AI revolution.