Little Sign of Labor Market Mismatch So Far

Goldman Sachs research finds that while AI has reduced job openings in office-based roles, it has actually decreased overall labor market mismatch by alleviating previous labor shortages in those specific sectors.

Key Takeaways

• 1.The composition of US job openings has shifted significantly since 2019, with a 450k decrease in office-based roles and a 300k increase in on-site service and production roles.
• 2.Occupations with high exposure to AI substitution have experienced sharper declines in job openings compared to those with low exposure or those suited for AI augmentation.
• 3.Counter-intuitively, AI-driven declines in job openings have reduced labor market mismatch because the affected sectors (like computer services) previously had the largest shortages.

Table of Contents

• US Daily
• Little Sign of Labor Market Mismatch So Far
• The US Economics Team
• Disclosure Appendix
• Reg AC
• Disclosures
• Global product; distributing entities
• General disclosures

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