Once again, Elon Musk declared on X: “Working will be optional in the future. There will be universal high income.” This time, he was responding to entrepreneur Peter H. Diamandis, who warned that “jobs are disappearing fast.”
The backdrop to Musk's remark is striking. According to Challenger, Gray & Christmas, U.S. employers announced 54,064 job cuts in September, a 37% drop from August. Yet the year-to-date total of nearly 950,000 is the highest since 2020, and hiring plans at just over 200,000 roles through September are the lowest since 2009.
