jobs

The US labor market exceeds expectations with 272,000 new jobs in May

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Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. The U.S. labor market added 272,000 jobs in May, far more than forecast, pushing back market expectations for the timing of the Federal Reserve’s rate cuts. The Bureau of Labor Statistics figures match economists’ prediction … Read more

AI is not yet able to capture jobs except in these four sectors, says McKinsey

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With slow productivity growth of around 1.4% despite groundbreaking advances in technology and innovation, increasing growth – and average household income – may depend on a simple equation. “I have my number of employees and my output per employee,” explains Kweilin Ellingrud, director of the McKinsey Global Institute. “Either I change the number of employees, … Read more