- The weak jobs report for July and steep downward revisions for prior months revealed a sharp decline in labor demand that’s suggestive of a recession, JPMorgan warned. Elsewhere in the data, an increase in unemployment among college graduates as well as a decline in staffing at business services firms could be hints that AI is impacting jobs.
The jobs report that delivered a stunning wake-up call to Wall Street on Friday also contained a recession signal and more indications that AI is weighing on employment.
